June 11 Thursday Gold Morning Outlook

Yesterday, gold experienced a rare cliff-like plunge, with the largest single-day drop of nearly $190, a decline of over 4.36%, with the price directly falling to a low of $4,071, completely breaking the previous consolidation structure, and market bullish sentiment fully retreating. Today, the market slightly rebounded from the lows, currently quoted around $4,103, mainly a weak correction after a sharp decline, with the bearish trend fully dominating the market.
The core logic behind this round of sharp decline comes from a reversal in macro expectations: U.S. economic data is relatively strong, the market has abandoned early rate cut expectations, and is even re-pricing the continuation of high interest rates and the possibility of further rate hikes, driving the dollar and U.S. Treasury yields to strengthen simultaneously. As a non-yielding safe-haven asset, gold is being sold off heavily, experiencing a stampede-like decline, with the previous bullish gains largely retraced.
Technically, the daily chart shows a large bearish break below multiple support levels, with moving averages in a bearish alignment, and the trend has completely weakened.
Short-term key resistance: $4,180–$4,200. If the rebound fails to break this range, downward pressure will continue;
Strong resistance watershed: $4,300. Without reclaiming this level, the overall outlook remains weak.
Short-term support: $4,060–$4,070. If this level is broken again, it will further test the $4,000 psychological level.
Tonight’s U.S. CPI data is a short-term turning point for the market. If the data is high and inflation remains stubborn, gold will face renewed pressure and hit new lows; if the data cools, there will be a chance for a technical rebound and correction.
Trading suggestion: Watch for a pullback to $4,020–$4,070, target $4,150; if broken, $BTC then see $4,200.