Click here to listen to today's Week in Review audio program covering the week's gold market news and pricing trends. For daily updates, tune into our daily Precious Metals Market Update audio program.

Gold prices closed the week little changed from last Friday's close, ending at $1,724.80 per ounce on the New York Spot Market.

Uncertainty continued over Greece's economic future. The troubled country is poised to receive a critical bailout but saw significant domestic unrest to the mandated austerity policies. Investor sentiment over this ongoing crisis led to a seesaw in gold prices this week.

The World Gold Council released data this week revealing that central banks acquired 500% more gold in 2011 (440 tons) than in 2010 (77 tons) – the highest level of buying since 1964. Large buyers included Mexico, Russia and South Korea.

The World Gold Council believes China's central bank made significant gold purchases in the final months of 2011, contributing to a surge in the country's imports. In 2009, Beijing revealed it had almost doubled its gold reserves since 2003, making it the fifth-largest holder of bullion with 1,054 tons. The WGC on Thursday predicted that China would overtake India as the world's top gold consumer.

In a letter to investors, billionaire hedge-fund manager John Paulson wrote that he believes gold could provide a safe haven against inflation caused by government spending. "By the time inflation becomes evident, gold will probably have moved, which implies that now is the time to build a position in gold," Paulson said.

Peter Grandich, editor and publisher of The Grandich Letter, forecast gold prices to reach a peak of $2,350 per ounce. He said, "All the fundamentals remain in place: central banks have gone from big sellers to net buyers and major producers don't forward sell much anymore. The news that the Fed plans to continue flooding the system with cheap paper is just another example of why gold's path of least resistance is to the upside."

Goldline's February specials include:

Call Goldline today at 866-867-4466 and speak to an Account Executive to learn more about how to qualify for Goldline's special offers.

In recognition of Presidents' Day, Goldline will be closed on Monday, February 20. The company will resume normal business hours on Tuesday, February 21, at 6:00 AM Pacific Time.

The company will be open on Saturday, February 18 from 7:00 AM to 3:00 PM Pacific Time.

To speak with a Goldline Account Executive and learn more about acquiring gold and silver, please call 866-867-4466.

(Sources: "Behind Central Banks' Gold Buying," TheStreet.com, February 17, 2012; "China central bank in gold-buying push," Financial Times, February 17, 2012; "Gold Bulls Expand as Billionaire Paulson Says Buy," Bloomberg, February 17, 2012; "Gold down on profit-taking, Greek uncertainty," Reuters, February 17, 2012; "Peter Grandich now predicting gold prices to top 2350," ETF Daily News, February 11, 2012)