By the middle of Friday's trading, the yellow metal had reached above the resistance of 55 and 100-hour simple moving averages near 1,470.00.
In regards to the future, the metal had no resistance as high as the pivot point at 1,475.18.
Next week, the pair could be slightly impacted by the US publications on Wednesday.
At 13:30 GMT on that day, the US Durable Goods Orders, Core Durable Goods Orders and Preliminary GDP are scheduled to be released.
In the meantime, the next week's reaction tables have been published. Take a look at the 25.11-29.11 Event Historical Reactions publication.
XAU/USD short-term forecast
From a theoretical perspective, it is likely that some upside potential could prevail in the market. However, note that gold could face the resistance formed by the monthly S1 at 1,475.18.
If the given resistance level holds, it is likely that yellow metal could consolidate against the US Dollar in the short term.
It is unlikely that bears could prevail in the market, and the price for gold could drop lower than the Fibonacci 23.60% retracement at 1,462.89.
Hourly Chart
On the daily candle chart, the commodity price is being kept down by the resistance of the 100-day simple moving average near 1,482.20. In addition, take into account that the 55-day SMA is approaching the rate from above.
Daily Chart
Traders remain long on gold
Since the previous Wednesday, 57% of volume was in long positions. The sentiment has not changed for more than a week.
Meanwhile, in the 1000 base point range around the current metal's price the pending orders were slightly bullish – 53% of orders were to buy and 47% to sell.
On Thursday, the orders were 54% to buy.