Gold had a rare banner day in trading markets on Tuesday, as a combination of short covering and hopes for more central bank easing sent the yellow metal to a two week high. Still, traders aren't sure what's next for bullion, which has taken a battering since the start of 2013.
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The price of spot gold hit an intraday high of $1,597, up as much as 1.2 percent, its highest level since February 28. Spot gold managed to break above the $1,560 and $1,585 range in which had been confined since the start of March. U.S. gold for April delivery were up one percent at $1,596.