XAU Trading Outlook (23-08-2012)

Oil & Gold (XAU) XAU/USD continued its technical break higher surging to $1665 so far in the Asian session with the printing presses in the US and Europe close to printing more money and increasing demand for the precious metal. OIL/USD continued to be well support rallying to fresh month highs above $98 so far on Thursday and eyeing a test of the psychological $100 level in coming days if the sentiment remains upbeat.

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