On Thursday, at 12:30 GMT, the publication of Final US quarterly Gross Domestic Product is set to be published. The release might impact the USD. However, it is usually the Preliminary GDP release, which impact the markets.
On Friday, the US Core PCE Price Index is set to reveal inflation's impact on the consumers. This indicator is seen by the US Federal Reserve as more important than the CPI. The publication is scheduled for 12:30 GMT.
XAU/USD short-term forecast
A move above 1,975.00 could be slowed down by other round price levels. Eventually, a potential surge would once again test the 2,000.00/2,010.00 range.
However, a decline is expected to look for support in 1,960.00, 1,950.00 and the last week's low level zone at 1,934.30/1,937.15.
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.Daily Candle Chart
Traders are short
On Tuesday, gold traders were bearish, as 59% of open positions were short.
Meanwhile, pending orders in the 1000-pip range were 60% to sell.
On Wednesday, open positions were 58% short and pending orders were 54% to buy.