Continued volatility may be expected this week due to ongoing uncertainty in the broader financial markets.
XAU/USD short-term forecast
Bullishness may push gold closer to 3300.00 if tensions in global markets persist. If bearishness occurs, significant price moves toward 3000.00 may be considered highly plausible.
XAU/USD daily charts review
Further bullishness could create a price discovery environment, potentially pushing gold closer to 3500.00. Any bearishness may scare traders and drive it toward 2900.00.Daily Candle Chart
Read More: Technical Analysis
Traders going short
On Monday, 27.00 % of volume was in short positions. Traders are going long.
Meanwhile, in the 1000 point range around the latest price, the pending orders were 44% to sell the metal.