Gold prices continued to push higher on Thursday's session, breaking the $2,000/oz psychological barrier and delivering widespread gains across mining stocks.

Investors flocked en masse to gold following the U.S. banking crisis and amid growing speculation about the end of the Fed hiking cycle.

TheSPDR Gold Trust(NYSE:GLD), an ETF backed by physical gold, has seen more than $1.3 billion flowing in over the past two weeks. Goldman Sachs has revised their target price for gold, which is now expected to rise to $2,050/oz over the next 12 months.

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