On Wednesday, the price had recovered and traded sideways around the 1,815.00 level.
Economic Calendar Analysis
This week, the price could be impacted by the release of the US ISM Manufacturing Purchasing Managers Index release on Wednesday at 14:00 GMT.
The top day for fundamental event watchers will be Friday. On Friday, at 12:30 GMT the US will release the country's monthly employment data. Later on, at 14:00 GMT, the US ISM Services Purchasing Managers Index is set to be out.
Most impact is expected from the US employment data release. The release will consist of the US Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
XAU/USD short-term forecast
If the 100-hour simple moving average catches up with the price, the metal could surge. A potential surge could reach first for the resistance of the 1,820.00 level and afterwards the August high levels in the 1,830.00/1,835.00 zone.
On the other hand, a decline of the metal's value could result in a test of the support of the 1,810.00 level, the 100-hour simple moving average at 108.75 and the 200-hour simple moving average near 1,800.00.
XAU/USD daily charts review
On the daily candle chart, the yellow metal has passed the resistance of the 100 and 200-day simple moving averages near the 1,810.00 level. Meanwhile, the August and July high levels can be better observed on this chart.Daily Candle Chart
Traders are neutral
Since Monday, the sentiment on the Swiss Foreign Exchange was 50% bearish and bullish.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 70% to buy the precious metal.