CoinWorld news, BMI Commodities Research, a research unit under Fitch, remains bullish on gold and maintains its forecast for the average gold price in 2026 at $4,600 per ounce unchanged.

And the institution believes that the Federal Reserve will not take any action on interest rates this year.
As noted last week, the Fed's hawkish tone has fueled rate hike expectations, which poses significant downside risks for gold.
But as long as the inflation pressures related to the Middle East conflict begin to fade as expected, following the recent US-Iran agreement, the most likely outcome remains that interest rates will remain unchanged for a longer period.
Gold's short-term price trend may be driven by Federal Reserve policy signals, and in the near term, precious metals are vulnerable to market expectations repricing and the US dollar regaining strength.