On Wednesday, at 18:00 GMT, the FOMC Meeting Minutes publication could provide more insight into the Federal Reserve's policy.
On Thursday, the US Preliminary GDP and Unemployment Claims releases at 12:30 GMT are highly likely going to impact the USD.
On Friday, at 12:30 GMT, the Core PCE Price Index is bound to impact financial markets through the US Dollar.
XAU/USD short-term forecast
An extension of the recovery of the commodity price might encounter resistance in the 2,000.00/2,010.00 range and the 200-hour simple moving average. Above the resistance zone take into account round levels that have acted as support and resistance.
However, a decline of the commodity price might look for support in the 50-hour SMA and 1,960.00 mark, before reaching the recent low level zone near 1,955.00.
XAU/USD daily charts review
On the daily candle chart, the decline has passed below the 50-day simple moving average near 1,990.00 and reached the support zone above 1,950.00.In regards to the future, note the approaching 100-day simple moving average near 1,940.00.
Daily Candle Chart
Gold traders go long
On Monday, gold traders were bullish, as 53% of open positions were long.
Meanwhile, pending trade orders in the 1000 point range around the current price were 70% to buy the metal.