If no significant geopolitical events take place, volatility in XAU/USD should not rise significantly.
XAU/USD short-term forecast
Gold is trading around the price level of 2935.00. A move toward 3000.00 is still highly plausible, considering elevated levels of uncertainty. Any bearishness may test lower support levels around 2890.00.
XAU/USD daily charts review
Gold could continue its upward momentum, with further price discovery potentially pushing it towards 3000.00. This would indicate sustained bullish sentiment, driven by factors like market uncertainty and inflation concerns.Daily Candle Chart
Read More: Technical Analysis
Traders going long
On Monday, 59% of volume was in long positions. Traders are going long.
Meanwhile, in the 1000 point range around the latest price, the pending orders were 15% to sell the metal.