The way I see this reported is:
1. If the debt ceiling is raised, that means more of the same borrowing and deficit spending our government loves so well. That should keep the PM prices in their long-term up trend. However, will there be a short term price collapse as HFT algos and hedgies abandon the safety trade of PMs and jump back into the guaranteed spike in stocks?
2. If the debt ceiling is NOT raised, my guess is that some percentage of bond holders will flee into commodities, including PMs. However, would there also be a side-effect of strengthening the dollar, at the expense of bonds and PMs dominated on dollars?
I obviously have a terrible grasp on this. My question is "Will a debt ceiling increase be negative for PMs?"