By 16:00 GMT on Tuesday, the price for gold had recovered to the 1,915.00 mark. Economic Calendar Analysis
There are nine sets of data being released this week, which might cause an impact on currency valuations. Five of the nine are US employment datasets.
The week's notable publications will start on Wednesday at 13:15 GMT, as the ADP Non-Farm Employment Change is set to be published.
Also on Wednesday, at 13:30 GMT, the US Final GDP might cause minor USD moves.
On Thursday, at 13:30 GMT, minor US Dollar moves could occur due to the publication of the weekly US Unemployment Claims.
The top event of the week will occur on Friday, as at 13:30 GMT the US Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate are set to be published.
The week's events are scheduled to end at 15:00 GMT with the publication of the US Institute for Supply Management Manufacturing Purchasing Managers Index survey results.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
If the price continues to surge, it is expected to find some resistance in the 1,920.00 and 1,925.00 levels, before the metal reaches the hourly simple moving averages near the 1,930.00 level.
However, a potential decline of the commodity price is highly likely going to look for support in the recent low level zone at 1,890.50/1,893.60.
XAU/USD daily charts review
On the daily candle chart, the metal's price has been reached by the 50-day simple moving average near the 1,896.00 level. Further below, take into account the 100-day SMA near 1,855.00 and the 200-day SMA near 1,820.00.Daily Candle Chart
Traders go long
On Tuesday, the sentiment on the Swiss Foreign Exchange was 55% bullish, as 55% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 64% to buy the precious metal.
On Monday, the orders were 100% to buy.