Friday

SPDR Gold Trust Could Soar On Debt Ceiling Concern This Week

The SPDR Gold Trust (GLD), gold and silver, and the relative ETFs should soar this week on the pending potential government shutdown and the looming debt ceiling debacle. While the possible government shutdown is more of a nuisance than an economic catalyst, the attention it will bring to the ineptitude of Washington D.C. will raise high concern about the looming debt ceiling deadline. The issue will rightly raise question about the full faith in credit in the United States, and in turn pressure interest rates, treasury securities and equities. Intensifying concern about the U.S. dollar will serve to surge gold and silver prices and the prices of the relative ETFs, especially the widely held and followed SPDR Gold Trust.