The top event of all will take place on Wednesday at 18:00 GMT. The US Federal Reserve is scheduled to make a Rate Statement.
On Thursday, the US Advance GDP at 12:30 GMT is bound to move the US Dollar's value. In addition, at the same time the US Unemployment Claims could cause volatility.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
XAU/USD short-term forecast
If the decline continues, the commodity price would first test the support of the 1,795.00 level. Afterwards, other round price levels could provide support.
On the other hand, a potential surge most likely would test the resistance of the 200-hour simple moving average and the upper trend line of the late-July channel down pattern.
Hourly Chart
XAU/USD daily charts review
On the daily candle chart, the rate is trading between the support of the 100-day simple moving average near 1,800.00 and the resistance of the 55 and 200-day SMAs at 1,833.00 and 1,822.00.Daily Candle Chart
Traders are long
Since Friday, the sentiment on the Swiss Foreign Exchange was 60% long.
On Wednesday, the open positions were 59% long.
Meanwhile, in the 1000-pip range around the metal's price the pending orders were 86% to buy gold.