Institution: The Federal Reserve will not take any action this year, and the forecast for the average gold price this year remains at $4,600.

Odaily Planet Daily News Fitch's research institution, BMI Commodities Research, remains bullish on gold and maintains its forecast for an average gold price of $4,600 per ounce in 2026 unchanged. The institution also believes that the Federal Reserve will not take any action on interest rates this year. As pointed out last week, the Fed's hawkish stance has fueled expectations of interest rate hikes, which poses significant downside risks for gold. However, as long as the inflationary pressures related to the Middle East conflict subside as expected, following the recent US-Iran agreement, the most likely outcome remains interest rates remaining unchanged for a longer period. Gold's short-term price trend may be driven by Federal Reserve policy signals, and in the short term, precious metals are susceptible to market expectation repricing and a resurgence of the US dollar's strength. (Jinshi)