XAU Trading Outlook (02-08-2011)

Oil &amp Gold (XAU) Dipped but was well supported and finished at opening levels. Overall trading with a low of USD$1609 and high of USD $1632 before ending the New York session at USD$1620 an ounce. Oil crashed from $98 to $93 with the weak US Manufacturing figures before closing above the key $95 level. WTI Oil Closed -$0.80 at $94.89 a barrel.

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