Gold is testing the $1600 level which stems from price action all the way back in 2013 after gold's historic rise to $1900 during the height of quantitative easing by the Federal Reserve in response to the financial crisis. Taking in to account the fact that the Federal Reserve has now returned to a period of loose monetary policy(lower rates, REPO bailouts/stealth QE) we can expect to see price break the $1600 level and continue to push higher. A push above $1600 would likely shift the sentiment to full bull and in turn bring more buyers to the precious metals sector.