XAU Trading Outlook (23-02-2012)

Oil & Gold (XAU) Gold broke above $1760 resistance in late US trade with aggressive moves higher hitting $1780 into the last hour before the close. The rally is now targeting the previous rally’s high at $1800 which held last August. OIL/USD consolidated above $106 supported by continued Iranian Tensions. OIL/USD consolidated above $106.

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