Notable events start on Tuesday. At 14:00 GMT, the ISM Manufacturing PMI data is set to be published and might impact the US Dollar.
On Wednesday, at 14:00 GMT, the US JOLTS Job Openings could impact the market via an adjustment of the value of the US Dollar.
On Thursday, at 12:15 GMT, the ADP Non-farm Employment Change might cause a move.
However, the top employment data publication of them all will happen on Friday. At 12:30 GMT, the US official monthly employment data sets will be published.
XAU/USD short-term forecast
If the price recovers, it is expected to face the resistance of the 50, 100 and 200-hour simple moving averages that are together located at the 2,510.00 mark. Higher above, the metal will face the all-time-high level range near 2,530.00.
On the other hand, a decline of the price is expected to look for support in the 2,478.80/2,484.00 range and the 2,470.00 mark.
XAU/USD daily charts review
On the daily candle chart, the metal found support in the 50 and 100-day simple moving averages, which have been the cause of the resumed surge of the price.Daily Candle Chart
Traders are still short
On Friday, 73% of volume was in short positions. Meanwhile, in the 1000 point range around the latest price, the pending orders were 70% to sell the metal.
On Monday, traders were 74% short and orders were 57% to buy.