Gold Confirms Fresh Lower Low Near $4,044 on June 11, Down from $5,598 Peak

On June 11, gold (XAU) confirmed a fresh lower low near $4,044, extending a downtrend from its January 29 record at $5,598. The metal currently trades near $4,324 after a US-Iran peace deal eased geopolitical tensions that previously powered its rally.

Clem Chambers, a member of BeInCrypto's Market Intelligence Experts Council, frames the decline as a "textbook parabolic unwind." According to Chambers, "Gold went up like a rocket and now looks like it's doing what rocket charts usually do: come down like a rock. Gold's move was about geopolitics and sanctions. As those pressures ease, the demand story that drove gold higher eases with it." The technical picture shows gold breaking below key Fibonacci resistance at $4,376, with further downside flagged on daily and 4-hour timeframes.