160 nitrates is high. Some fish have real problems with high nitrates. Some will flip upside down in response to a high nitrate reading. Even though you may not see any sideeffects of higher nitrates, I feel that it adds to the stress of the fish, may lower the immunity, and makes a fish far more susceptible to disease, parasites, egg impaction and constipation. High nitrates will also feed algae - the more nitrates the larger the algae bloom.
The best way to lower your nitrates is to either:
Do water changes - do another 25 %, and then another 25% until you get the nitrates down to 20% or lower. Hereafter, when changing your water, you will have to calculate how often and how much water you will need to change to keep the nitrates down. In an fully stocked or slightly overstocked tank, a good cycle will crank through all the ammonia and nitrite, but the result is tremendous nitrates as the final product. To keep this down, you will need to do water changes more often and/or change a larger percentage of the water each time. I have a 56 gallon tank that has only 4 fish - but they are BIG. I am probably overstocked, but I keep it under control by changing 20 gallons of water every 3-4 days.
Or:
Add live plants - live plants process the nitrates - they use them as food to grow.
Do your test strips include nitrites? (just curious

) If you have nitrates, my bet is that your cycle is going nicely. I have found that purchasing the individual kits of ammonia, nitrite, nitrate and pH at PetCo or PetSmart, is best for me, for I use them up at different times and I only have to replacwe the one I have used up. Each tank needs a set of tests, depending on what is happening in the tank, but not all tanks need the full set every time......
(Edit:I use the drop kits from Aquarium Pharm. for each type of test. They come individually and you only use the one you want. I think I spend about $4 for each kit - 60-160 tests per kit depending on the test.)
A pH of 7.8 is GREAT. Leave it right there. With a kH or gH (?) of 300, you will have difficulty changing it anyway. It will bounce back - it is far better simply to leave it alone and let it be consistant. Goldies do fine in quite a wide range of pH - consistancy is far far far more important. A "hardness" of 300 is fine - is simply means that it will hold your pH solidly with no additives. That is GREAT, too.
You are doing fine - getting test kits, getting to know your own water, tanks, fish and such is a wonderful thing.