This week, the market might move due to the combined release of the US CB Consumer Confidence and the JOLTS Job Openings on Tuesday, at 14:00 GMT.
On Wednesday, take into account the US ADP Non-farm Employment Change and Advance GDP numbers at 12:15 and 12:30 GMT.
A major event will take place on Thursday at 12:30 GMT, as the US Core PCE Price Index will reveal inflation at the consumer level.
The top event of the week will be the release of the US monthly employment data sets. The Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate are going to impact the markets via an adjustment of the US Dollar's value.
XAU/USD short-term forecast
For the price to test the all-time high levels near 2,760.00, the metal has to break above the 2,740.00/2,750.00 range. Higher above, it is expected that the 2,800.00 mark will act as a major resistance level.
On the other hand, a decline of the metal might look for support in the 50 and 100-hour simple moving averages near 2,735.00, before approaching the 200-hour SMA and the 2,720.00 level.
XAU/USD daily charts review
On the daily candle chart, the metal has ended its consolidation. It has found support in the 2,600.00 mark and resumed the broader surge.Daily Candle Chart
Traders remain short
On Monday, 73% of volume was in short positions. Traders are shorting gold.
Meanwhile, in the 1000 point range around the latest price, the pending orders were 60% to sell the metal.