On Friday, at 12:30 GMT, the United States will publish the Average Hourly Earnings, Non-Farm Employment Change and Unemployment Rate.
On Wednesday, watch out for the US Consumer Price Index release at 12:30 GMT. The US inflation data is bound to impact the US Dollar's value.
On the same day, at 18:00 GMT, the US Federal Reserve Meeting Minutes could cause a market reaction with new information on US monetary policy.
On Thursday, at 12:30 GMT, US inflation at the producer level will be revealed. The US Producer Price Index is set to be released at that time.
On Friday, the US Retail Sales data might cause a reaction in the financial markets at 12:30 GMT.
XAU/USD short-term forecast
A decline below 2,000.00 could look for support in the 100-hour simple moving average near 1,995.00 and the 200-hour SMA near 1,980.00.
Meanwhile, a resumption of the surge of the commodity price is set to be slowed down by 2,020.00 and 2,030.00. Higher above, the 2,050.00 mark is set to act as resistance.
XAU/USD daily charts review
On the daily candle chart, the metal has passed above the high level zone of 2020 and 2023. The zone appears to be no longer capable of impacting the commodity price, as round price levels have more impact.Next target for the surge is the 2020 August and 2022 March high level zone.
Daily Candle Chart
Traders are short
On Thursday, gold traders were bearish, as 62% of open positions were short.
Meanwhile, pending orders in the 1000-pip range were 57% to sell.