Theoretically, gold and gold mining stocks should go up as a result of the "looming default crisis." However, anyone who has followed this charade knows that there are more than enough monthly receipts to cover interest, social security, and other "must-pay" expenses. This entire hustle, including the contrived "deadline", which just happens to be the day before a huge birthday bash and fundraising extravaganza is planned in Chicago, is nothing but unadulterated fear-mongering -- just like TARP, the so-called stimulus, and other legislation that had to be passed to prevent Armageddon. Bottom line: stay long in gold and gold-mining stocks.
The above comment in no way constitutes a recommendation to buy or sell any securities. Any investment decisions should be undertaken only after conducting extensive due diligence.