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XAU Trading Outlook (09-05-2011)

Oil &amp Gold (XAU) ended four days of heavy selling to stage a small recovery alongside silver. Overall trading with a low of USD$1471 and high of USD $1591 before ending the New York session at USD$1493 an ounce. Sharp selling continued in Europe on Friday with the market under $95 briefly before soaring back above $100 on good US jobs data. The wild oil market is recent session&rsquo s looks likely to continue with $100 seen as the key pivot point and resistance. WTI Oil Closed -$2.60 at $97.20 a barrel.

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