Gold closed year-end for 2011 in a positive light above $1434 suggesting that it is not ready to collapse into dust. The longer-term levels are still in a bearish mode showing that we are still in a correction phase. This is generally being caused by the fact that we are still in a deflationary mode that is the hallmark of ALL economic declines where asset values decline and the purchasing power of money rises – i.e. the housing collapse.

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