XAU Trading Outlook (18-05-2011)

Oil &amp Gold (XAU) Gold was on the weaker side overnight falling to $1470 before finding support and grinding higher. Overall trading with a low of USD$1471 and high of USD $1498 before ending the New York session at USD$1487 an ounce. Oil tested $95 before returning to opening levels in mixed trade. The outlook is cautious and more range trading is expected. WTI Oil Closed -$0.46 at $96.90 a barrel.

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