No more events this week are likely to impact the price of Gold. Next week's event review is set to be done on Friday.
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
In the case that the price passes the resistance of the 1,870.00 level, the 1,900.00 mark could be the next target for the yellow metal's surge.
On the other hand, a bounce off from the 1,870.00 could return to the 1,841.30/1,843.50 zone. Note that the zone was being approached by the additional support of the 50 and 100-hour simple moving averages near 1,840.00 and 1,830.00.
XAU/USD daily charts review
On the daily candle chart, traders can observe this and last year's high level zones near 1,900.00, 1,950.00 and 2,000.00.Daily Candle Chart
Traders are short
Since Wednesday, the sentiment on the Swiss Foreign Exchange was 55% bearish, as 55% of open position volume was in short positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 56% to sell the precious metal.
The orders were 80% to buy on Wednesday.