The yellow metal's price has extended its surge. The move upwards was fueled by the weakness of the US Dollar, which was caused by the worse than expected US labour data.
Economic Calendar Analysis
The metal's price could move due to the US CPI on Wednesday at 12:30 GMT.
On Friday, the US Retail Sales and Core Retail Sales at 12:30 GMT are bound to move the metal's price, as it impacts the US Dollar's value.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
XAU/USD short-term forecast
In regards to the near term future, the metal's price could reach for the 1,850.00 level and the February high at 1,855.00.
On the other hand, the hourly simple moving averages have been left far below the price, which signals that a consolidation with sideways trading could occur.
Hourly Chart
XAU/USD daily charts review
On the daily chart, the yellow metal's price is heading to the resistance of the 200-day simple moving average at 1,850.00.Daily Candle Chart
Long sentiment declines
On Monday, the sentiment on the Swiss Foreign Exchange was 57% bullish, as 57% of open position volume was long.
Meanwhile, in the 1000-pip range around the metal's price the pending orders were 63% to buy the metal.