In a prepared speech to the Sacramento Metropolitan Chamber of Commerce today, U.S. Treasury Secretary Janet Yellen warned of the potential for severe economic consequences if the House does not address and raise the debt ceiling.

This week will contain two exceedingly important government reports on the US economy. These two reports will be important in guiding the final decision of the Federal Reserve at the FOMC meeting next week.

The volatility that led to diminished bullish market sentiment for gold has returned as gold futures broke below $2000.This morning in New York traders witnessed a quick and powerful price drop from the open and high at $2016.