XAU Trading Outlook (06-05-2011)

Oil &amp Gold (XAU) was sold aggressively after breaking $1500 support to plunge to $1460 region. Overall trading with a low of USD$1462 and high of USD $1522 before ending the New York session at USD$1471 an ounce. In a record sell off, Crude Oil was almost in free fall down $10 a barrel at one stage, breaking below $100 a barrel. WTI Oil Closed -$9.44 at $99.80 a barrel.

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