Volatility may be expected however, due to uncertainty in the overall finance markets.
XAU/USD short-term forecast
Sideways trading may occur in the gold price if volatility cools down and no significant directional bias emerges. The price could fluctuate between 2953.00 and 3060.00.
XAU/USD daily charts review
Gold could continue its upward momentum, with further price discovery potentially pushing it above 315.00, maintaining bullish momentum. Considering changes in global trade, volatility may be seen in the upcoming weeks. If the 3000.00 level is broken, a move toward 2900.00 could be a plausible scenario.Daily Candle Chart
Read More: Technical Analysis
Traders going short
On Tuesday, 27 % of volume was in short positions. Traders are going long.
Meanwhile, in the 1000 point range around the latest price, the pending orders were 40% to sell the metal.