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XAU Trading Outlook (31-01-2013)

Oil & Gold (XAU) Gold surged after the GDP report showed the world’s largest economy had turned negative in Q4. Analysts were quick to point out that it would be hard to stop bond purchases with figures like that. Friday’s Nonfarm payrolls will take on a bigger significance given the brightest spot in the US recovery has been in jobs so far this year. OIL/USD was able to shrug off the weak data and climbed to new trend highs above $98.

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