XAU Trading Outlook
Oil & Gold (XAU) Gold fell back for a second day falling on USD strength before finding support near $1610. Oil crashed to $101 fresh multimonth lows before bouncing back above $102.
Oil & Gold (XAU) Gold crashed lower post FOMC falling to $1640 from $1680 earlier.Oil was calmer falling below $104 in quiet trade with US monetary policy not as important as global growth.
Oil & Gold (XAU) Gold pushed up to its next level near $1684 with the $1700 now looming as significant resistance. Oil Rallied with the rest of the market pushing higher on USD weakness and expectations that global manufacturing was rebounding.
Oil & Gold (XAU) Gold was quiet in a $10 range between $1660-70 and closed at the top end. Oil rallied to $104 in the US session before plummeting to below $103 in aggressive trade.
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