In general, the metal's price was expected to trade sideways until the Wednesday's FOMC announcements at 18:00 GMT.
Economic Calendar Analysis
This week top attention will be paid to the US Federal Reserve's Federal Open market Committee announcements on Wednesday at 18:00 GMT.
In general, the markets expect a US Dollar interest rate cut that would beat down the value of the USD.
Meanwhile, on Tuesday the US CB Consumer Confidence publication could cause a move above ten base points at 14:00 GMT.
In addition, note that the financial media might comment and look at the US ADP Non-Farm Employment Change that is scheduled to be published on Wednesday at 12:15 GMT.
On Thursday, the ISM Manufacturing PMI will be published at 14:00 GMT.
On Friday, the US employment data will be published. It will consist of the US Average Hourly Earnings, Non-Farm Employment Change and the official Unemployment Rate.
XAU/USD short-term forecast
Since Friday, the yellow metal has traded almost sideways in limbo around the hourly simple moving averages, which all met at the middle of Friday.
On Tuesday morning, the metal's price was located just above the hourly simple moving averages, as it approached the 1,430.00 level.
In general, the metal should test the resistance of round psychological resistance levels as the 1,430.00 and 1,435.00 level.
On the other hand, the rate could fluctuate sideways until the US FOMC announcements at 18:00 GMT on Wednesday.
Hourly Chart
On the daily chart, it can be observed that the metal pierced the resistance of the August 2013 high level at 1,434.70. The event signals that the metal can continue to surge.
Daily Chart
Traders remain short on gold
On Tuesday, 67% of open gold position volume on the Swiss Foreign Exchange was in short positions.
Meanwhile, in the 1000 base point range around the current metal's price the orders were bearish - 52% were set to sell, and 48% of orders were set to buy.