XAU Trading Outlook (08-02-2013)

Oil & Gold (XAU) Gold was volatile but held the recent range falling from $1680 to $1660 before rebounding back to $1683 and finally back to $1672. OIL/USD dropped with US stocks from $97 to $95.50 before stabilizing near $96 a barrel. The recent rally could have further to fall given the size of the gains but $95 was strong earlier in the week.

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