Gold (XAU) has confirmed a new lower low on June 11, extending the downtrend that started from the peak at US$5,598. Market intelligence expert Clem Chambers warns that gold prices could still drop further, like a rocket running out of fuel crashing back to Earth.
Currently, gold is trading around US$4,324, virtually unchanged from the previous day, after the US-Iran peace deal eased geopolitical tensions that had previously fueled a sharp rally. The technical situation now actually shows a bearish trend across various time frames.
Clem Chambers: Like a rocket falling freely to Earth.
Chambers, a member of the BeInCrypto Market Intelligence Experts Council, describes this decline as a classic example of a parabolic reversal. He views the previous gold rally as being supported only by geopolitical issues and sanctions, but that sentiment is now quickly fading.
On the long-term chart that was just released, a vertical spike towards US$5,500 can be seen, followed by a sharp decline. There’s an arrow saying 'Not impossible' indicating the potential for further declines.
The Gold crash is go. pic.twitter.com/oE30xuwhqq
— Clem Chambers (@ClemChambers) June 16, 2026
In an exclusive comment for BeInCrypto, Chambers stated that silver has risen further and faster because retail traders are hunting for more aggressive movements. However, he emphasized that his caution only applies to the parabolic chart, not to gold's long-term value itself.
“Gold is rising like a rocket and now it seems to be doing what rocket charts typically show: dropping like a stone. The movement in gold is driven by geopolitical factors and sanctions. As that pressure slowly eases, the demand story that once pushed gold prices up is also weakening. Silver has surged further and faster than gold because retail investors are always chasing the quicker movements. I’m not bearish on gold in the long run; I’m just bearish on the parabolic chart.”
Daily Chart Confirms New Lower Low for Gold.
The daily chart structure remains very bearish. Gold continues to record lower highs and lower lows since the record on January 29 at US$5,598.
On June 11, the price marked a new lower low and confirmed support at the Fibonacci level of 0.786 near US$4,044. In its descent, gold also lost important support at Fibonacci 0.618 around US$4,376.
The level that has been broken is now acting as resistance. This position also aligns with the downward trend line that has been limiting every rally since the all-time high. The Relative Strength Index (RSI) shows a reading of 44 and is currently bouncing from the oversold area.
The area around US$4,044 is the floor that bulls need to defend. If it breaks, the door opens to the next target at US$3,621. However, if a daily close successfully returns above US$4,376, the bearish sentiment starts to weaken.
4-Hour Chart Marks Bearish Channel Retest.
The 4-hour chart reinforces the trend direction, showing a breakdown from the descending parallel channel. This breakdown targets a price slightly below US$4,000, and this target was nearly reached with the low price on June 11.
A sharp V-shaped bounce has brought XAU back to the lower band of that channel. Now the price is approaching the midline level, which intersects with the Fibonacci resistance of 0.618.
The Moving Average Convergence Divergence (MACD) is nearing a bearish crossover. A clear rejection here could continue the downward trend; however, if the price can break back above US$4,376, the bearish argument must be held off temporarily.
Traders are now watching whether the price bounce will hold at the midline or break through it. The next few sessions are predicted to be crucial for the future movement of gold.