Are you ready to close the book on what has been a volatile week for gold prices? The metal tested and held, the key support and psychological level around $1,200 an ounce this week. According to Kitco’s Jim Wyckoff, Greece’s inability to negotiate a new bailout agreement is helping to support the market.

An interesting aspect of the gold market is that although the futures market has lost $100 since trading above $1,300 an ounce in late-January, gold-backed exchange traded products (ETPs) have held up relatively well. Gold reserves in GLD, the world’s biggest ETP, have remained steady as of Thursday, and as we noted in a recent story, billionaire investor John Paulson has maintained his position in GLD at 10.23 million shares.

For discussion on the drivers of gold price, an article on a group of divers' recent discovery of Israel's largest hoard of ancient gold, and a sneak peek at our coverage of John Doody's Gold Stock Analyst Investor Day and BMO’s Global Metals & Mining Conference.

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