This week, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT.
XAU/USD short-term forecast
A move below 1,915.00 could result in the commodity price looking for support in the 1,910.25 level. Below this level take into account the 1,900.00 mark.
On the other hand, a recovery of the price could face resistance in the combination of the 50, 100 and 200-hour simple moving averages near 1,925.00. Above the moving averages take into account the 1,930.00 level and the 1,932.25 level.
XAU/USD daily charts review
On the daily candle chart, the commodity trades between the 1,950.00 level's resistance and the support of the 1,900.00 mark since late August.Daily Candle Chart
Gold traders are mostly long
On Monday, the Swiss Foreign Exchange, traders were 60% bullish on gold, as that proportion of open Gold positions were long.
In the meantime, pending orders in the 1000 point range around the current price are 78% to buy.