XAU Trading Outlook (08-07-2011)

Oil &amp Gold (XAU) Gold was quiet above $1530 after testing support below. Overall trading with a low of USD$1522 and high of USD $1535 before ending the New York session at USD$1530 an ounce. Oil broke higher back above the next level resistance level at $98. WTI Oil Closed +$2.02 at $98.67 a barrel.

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