XAU Gold Market Analysis 2026.06.11

The major level of gold is shown in Chart 1. The decline starting from 5600 is a correction of the entire upward move in Chart 1. After finding the correction endpoint, it will continue to reach new highs. However, it is important to be cautious because this correction level is large, belonging to the weekly timeframe.

The daily structure division is shown in Chart 2. As previously mentioned, once 4268 is broken, the rebound may have already ended at 4891, and the movement starting from 4891 is a new decline. Last night’s break below 4100 also confirmed this trend.

Now, 4268 has become a key support and resistance switch position. If it cannot break above this level, the decline starting from 4890 will temporarily not end. However, if the decline starting from 4890 (blue box in Chart 2) is of the same level as the 5600-4100 decline (blue segment on the left side of Chart 2), then there is hope to end this wave of decline and see a rebound within two months.

Since gold’s major level is in an adjustment phase, its short-term profit-making effect is no longer strong. Friends with medium- to long-term holdings of physical gold can pay attention to its subsequent trend, while short-term traders do not need to spend too much effort on this asset. #xua $XAU