XAU Trading Outlook
Oil & Gold (XAU) the XAU/USD is being liquidated as investors flee to cash while the uncertainty remains. The precious metal is below $1600 and heading lower in the Asian session. Oil resumed the heavy selling seen on Friday and we are retesting $97 a barrel.
Oil & Gold (XAU) the XAU/USD was the in a tight range between $1640 and $1635 for most of the day waiting for inspiration. OIL/USD bounced to 98.20 as the selling subsided and bargain hunters entered the market after a two day $8 a barrel selloff.
Oil & Gold (XAU) XAU/USD is being kept contained as the EUR/USD led Dollar strength pulls the precious down while the sovereign risk from the change in European government is supporting. OIL/USD Crashed on Friday and continued on Monday breaking below $100 a barrel and slumping as low at $96.
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