There are no notable events scheduled for this week.
XAU/USD short-term forecast
A resumption of the larger scale surge would once again test the resistance of the 2,084.35/2,088.30 range. Higher above, the 2,090.00 and 2,100.00 levels are expected to act as resistance.
If the price declines below 2,075.00, the 50-hour moving average and the 2,068.55/2,070.50 zone are expected to act as support. Further below, note the 100-hour SMA and the 2,060.00 level.
XAU/USD daily charts review
On the daily candle chart, the 2021 and 2022 high level range at 2,065.30/2,082.80 appears to have failed to keep the price down. If it turns into support, the metal is set to approach the all-time high levels near 2,150.00.Daily Candle Chart
Gold traders are short
On Wednesday, 61% were short, as that proportion of open position volume was in short positions.
In the meantime, pending orders in the 1000-pip range around the current price were 56% to buy the metal.
On Thursday, positions were 66% short and orders were 55% to buy. A shift in positions of 5% is a lot for gold. It appears that a massive majority expect the metal to fail to pass above 2,100.00.