Note the US Empire State Manufacturing Index on Monday at 12:30 GMT.
On Friday, the US Flash Manufacturing and Services PMIs could cause an impact on the US Dollar.
XAU/USD short-term forecast
A decline of the commodity price is expected to look for support in the 1,985.00 level that acted as support on April 9. Further below, other round levels might act as support.
On the other hand, a recovery is set to face the 50 and 100-hour simple moving averages near 2,020.00, the 2,030.00 level and the 2,050.00 mark.
XAU/USD daily charts review
On the daily candle chart, the metal has passed above the high level zone of 2020 and 2023. The zone appears to be no longer capable of impacting the commodity price, as round price levels have more impact.Next target for the surge is the 2020 August and 2022 March high level zone.
Daily Candle Chart
Read More: Technical Analysis
Traders are short
On Monday, gold traders were bearish, as 59% of open positions were short.
Meanwhile, pending orders in the 1000-pip range were 56% to buy.