Analysis: Multiple factors support the long-term bullish trend of gold, with gold prices expected to reach $5800 by the end of the year Odaily Planet Daily reported that institutions such as ANZ Bank and Goldman Sachs have stated that even if the Middle East war disrupts the market, gold may still rebound in the long run. Analysts from various institutions believe that the resilience of central bank demand, sustained geopolitical uncertainty, expectations of interest rate cuts by the Federal Reserve, and diversified investment in US dollar denominated assets are all reasons for long-term bullish sentiment. ANZ analysts Soni Kumari and Daniel Hynes said they expect prices to eventually rebound as the macroeconomic combination of economic growth and inflation worsens, paving the way for the central bank to resume interest rate cuts. ANZ Bank maintains its outlook, predicting that gold prices will reach $5800 by the end of the year. Analysts wrote that the central bank's gold purchases are expected to remain a key support pillar, with official purchases expected to be around 850 tons in 2026. The bullish stance of ANZ Bank echoes similar forecasts from Goldman Sachs and RBC in early March. Goldman Sachs maintains its forecast of $5400, citing the central bank's continued gold purchases and expectations of a 50 basis point rate cut by the Federal Reserve this year. Goldman Sachs analysts previously stated that if the disruption in the Strait of Hormuz continues, gold still faces tactical downside risks in the short term. But long-term conflicts may accelerate the diversification of traditional Western assets, supporting gold prices in the long run. (Golden Ten)