By the middle of Thursday's trading, the rate had reached the 1,820.00 mark. Economic Calendar Analysis
On Thursday, the US Advance GDP at 12:30 GMT is bound to move the US Dollar's value. In addition, at the same time the US Unemployment Claims could cause volatility.
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 continues to surge, the metal could reach the resistance zone that surrounds the 1,825.00 mark. Above it, other round price levels could provide resistance.
On the other hand, a potential decline would look for support in the 1,810.00 level before reaching the 55, 100 and 200-hour simple moving averages.
Hourly Chart
XAU/USD daily charts review
On the daily candle chart, the rate is trading between the support of the 100-day simple moving average near 1,800.00 and the resistance of the 55 and 200-day SMAs at 1,833.00 and 1,822.00.Daily Candle Chart
Traders are long
Since Wednesday, the sentiment on the Swiss Foreign Exchange was 59% long. Namely, 59% of open position volume was in long positions.
On Thursday, in the 1000-pip range around the metal's price the pending orders were 53% to sell gold.
Previously, 86% of orders were to buy.