This Friday, all attention will be on the US Core PCE Price Index release on Friday at 12:30 GMT.
Next week, the US ISM Manufacturing PMI could impact the markets via the US Dollar at 14:00 GMT.
On Tuesday, the US JOLTS Job Opening might cause a USD move at 14:00 GMT.
On Wednesday, watch out for the ADP Non-Farm Employment Change at 12:15 GMT and the US ISM Services PMI at 14:00 GMT.
On Thursday, minor action is expected from the US Unemployment Claims.
On Friday, the top event of the week will take place. The United States will publish the monthly employment data at 12:30 GMT. The release will consist of the Average Hourly Earnings, Non-farm Employment Change and the Unemployment Rate.
XAU/USD short-term forecast
A move above 1,875.00 could result in the commodity price almost immediately encountering resistance in the 1,880.00 level. Above 1,880.00, the combination of the 100-hour simple moving average and the 1,895.00 level might act as resistance.
However, in the case of a resumption of the decline, the rate could look for support in the 1,860.00 and 1,850.00 levels.
XAU/USD daily charts review
On the daily candle chart, note the broad large scale channel down pattern. The pattern's support line could cause a recovery of the commodity price.Daily Candle Chart
Gold traders are mostly long
On Friday, the Swiss Foreign Exchange, traders were 72% 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 53% to sell.
On Thursday, positions were 71% long and orders were 50% to buy and sell.