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
In the case of the commodity price recovering resistance could be provided by the 1,982.00/1,984.00 range and the 200-hour simple moving average. Higher above, the 2,000.00/2,010.00 zone is expected to once again impact the price.
On the other hand, a decline of gold would have to pass below 1,970.00 and the 50 and 100-hour simple moving averages, before reaching the 1,952.00/1,955.00 range.
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 Wednesday, gold traders were bullish, as 54% of open positions were long.
Meanwhile, pending trade orders in the 1000 point range around the current price were 62% to buy the metal.