On Wednesday, at 13:30 GMT, the US Preliminary quarterly GDP is expected to impact the financial markets through the value of the US Dollar.
On Thursday, the publication of the US Core PCE Price Index at 13:30 GMT is most likely going to cause a USD move, as the US monetary policymakers watch this indicator.
XAU/USD short-term forecast
A move above 2,015.00 might encounter resistance in other round price levels. In the meantime, any sharp surge is set to be slowed down by the upper trend line of the channel up pattern.
On the other hand, a decline of the commodity price would look for support in the 2,005.00 level, before reaching the 50 and 100-hour simple moving averages and the lower trend line of the channel pattern.
XAU/USD daily charts review
On the daily candle chart, the metal has broken the resistance range that surrounds the 2,005.00 mark. A broad extension of the surge could aim at the 2,065.30/2,082.80 range.Daily Candle Chart
Gold traders are shorting
On Monday, the Swiss Foreign Exchange, traders were 60% short on gold, as that proportion of open Gold positions were short.
In the meantime, pending orders in the 1000 point range around the current price have been 53% to buy.