This week, the US Consumer Price Index data release on Wednesday at 12:30 GMT is set to impact the financial markets.
On Thursday, watch out for the US Producer Price Index publication at 12:30 GMT. In addition, at the same time the US weekly Unemployment Claims numbers will be out.
XAU/USD short-term forecast
The ongoing surge of the metal's price could encounter resistance in the 50-hour simple moving average near 2,030.00 and other round price levels. The 2,050.00, 2,060.00 and 2,080.00 levels have acted as resistance during the second part of past week's trading.
On the other hand, a decline is almost certainly going to look for support in the 2,000.00 mark, which has impacted the price since mid-April.
XAU/USD daily charts review
On the daily candle chart, the metal has bounced off the 2020 and 2022 high level zone, not the 2,080.00 mark, as implied by analysis of the hourly candle chart.Daily Candle Chart
Traders are almost neutral
After the Fed announcement, gold traders were slightly short, as 52% of open positions were short.
Meanwhile, pending trade orders in the 1000 point range around the current price were 50%/50% to buy and sell the metal.
On Monday, the positions were 53% short and orders were 68% to buy the metal.