XAU Gold Market Analysis 2026.06.11 The larger trend for gold, as shown in Chart 1, indicates that the drop starting from 5600 is a pullback for the entire upward movement in Chart 1. Once the pullback ends, it’s likely to push for new highs. However, be cautious as this adjustment is on a large scale, belonging to the weekly level. The daily structure is divided as shown in Chart 2. As mentioned before, once 4268 was broken, the rebound might have already ended at 4891. The drop starting from 4891 marks a new downtrend, and last night’s break below 4100 further confirmed this trend. Now, 4268 has become a key support-resistance flip level. If it fails to reclaim this level, the downtrend starting from 4890 will not end for the time being. However, if the drop starting from 4890 (blue box in Chart 2) is of the same level as the drop from 5600 to 4100 (blue segment on the left side of Chart 2), then there’s hope for this downtrend to end within two months, followed by a rebound. Since gold is currently in a large-scale adjustment phase, its short-term profit potential is no longer strong. For those holding mid-to-long-term positions in physical gold, you can keep an eye on its future movements. Short-term traders, however, don’t need to spend too much energy on this asset for now.