XAU Trading Outlook (19-07-2011)

Oil &amp Gold (XAU) Another day another record high for the precious metal with Gold breaking $1600 an ounce. Overall trading with a low of USD$1591 and high of USD $1607 before ending the New York session at USD$1603 an ounce. Oil tested and rebound from $95 a barrel for the second time in recent sessions and could be forming an important support at the level. WTI Oil Closed -$1.31 at $95.93 a barrel.

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