The question, "will the price of gold drop on debt deal?" can easily be answered by this one simple chart of the US debt, the "debt ceilings", and the price of Gold posted below:
NO, the price of Gold will NOT DROP on a debt ceiling deal. Now, it might dip briefly on the news of a debt ceiling deal...we have seen that occur at least three times in the last week, but the price of Gold is not "going to go down" because the US Congress has agreed to raise the debt ceiling. NOTHING about raising the debt ceiling is negative for the price of Gold. In fact, it could not be more positive. The nation is $14.3 TRILLION in debt now, does adding more debt make the nation's debt problem go away? Hardly! Besides, look again at the chart posted just above...it is simple to understand! Raise the debt limit, and the price of Gold will follow...it has for the past 10 years!