XAU Trading Outlook (22-08-2012)

Oil & Gold (XAU) XAU/USD gold soared on ECB Bond buying talk with is equivalent to US QE and could devalue the Euro. OIL/USD soared to $97.50 before easing as profit takers took control of the market. Traders will be watching the FOMC minutes and Chinese PMI tomorrow for more clues on the health of the Global economy.

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