XAU Trading Outlook (20-07-2011)

Oil &amp Gold (XAU) pushed higher to $1610 before coming under heavy liquidation on sharp profit taking and slipped over $25 an ounce. Overall trading with a low of USD$1582 and high of USD $1610 before ending the New York session at USD$1589 an ounce. Oil continued to range trade in the $95-98 region back higher on strong risk appetite. New WTI Oil Contract. WTI Oil Closed +$1.57 at $97.50 a barrel.

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