Gold prices surge, now above $1600

For the past few days investors wondered whether gold prices will reach $1600 level. Today the yellow metal managed to break above the $1600 resistance level. One could notice a significant surge in the afternoon as in roughly one hour the gold spot price increased from $1588 to the mentioned $1600 level. The bulls are still pushing the price higher as gold is now trading at around $1603 (+1.38%).

Source: xStation5

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