Expectations of Federal Reserve rate cuts and global asset allocation driving long-term gold price increases, with year-end prices possibly reaching $5,800! As expectations of Fed rate cuts grow and the trend of diversifying investments in U.S. dollar assets continues, the long-term bullish outlook for gold becomes clearer. ANZ Bank predicts that by the end of 2024, gold prices may surpass $5,800, and forecasts that by 2026, global central banks will purchase approximately 850 tons of gold. Meanwhile, Goldman Sachs maintains its expectation of a $5,400 gold price, believing that long-term geopolitical conflicts may accelerate the diversification of Western assets, further supporting gold price increases.