On Tuesday, at 12:30 GMT, the US Producer Price Index data will be out. Expect minor moves on USD charts.
On Wednesday, at 12:30 GMT, the US Retail Sales and Core Retail Sales data might cause USD moves.
The top event of the quarter is scheduled for 18:00 GMT. At that time, the US Federal Reserve will releases its FOMC Statement and FOMC Economic Projections and the Federal Funds Rate.
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 for gold continues to surge, it would have to pass the 50-hour simple moving average near 2,010.00, before approaching the 2020 and 2022 high level zone at 2,050.00/2,075.00.
In the meantime, a decline of the commodity price is expected to look for support in the 1,975.00 level's zone and the 1,960.00 mark, where the 200-hour simple moving average is located at.
XAU/USD daily charts review
On the daily candle chart, another channel up pattern has been broken. The metal's surge appears to be going parabolic. Meanwhile, note that previous high levels act as support.Daily Candle Chart
Bearish sentiment decreases
On Wednesday, the sentiment on the Swiss Foreign Exchange was 62% bearish, as 62% of open position volume was in short positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 75% to buy the precious metal.
On Thursday, sentiment was 60% bearish. However, pending orders were 75% to buy.