http://finance.yahoo.com/news/Gold-Surges-to-Record-as-Debt-bloomberg-880371903.html?x=0&sec=topStories&pos=4&asset=&ccode=

(For a related story on the U.S. debt rating, click here. For a story on Greek debt levels, click here. To read a story on the performance today of currency, commodity and equity markets, click here.)

Gold may surge to $2,000 if the Fed starts a third round of U.S. debt purchases, according to Michael Pento, senior economist at Euro Pacific Capital Inc. “People will be forced into buying gold,” Pento said.

Gold’s rally triggered gains in related equities. Zijin Mining Group Co., China’s biggest gold producer by market value, jumped as much as 7 percent. Newcrest Mining Ltd. (NCM), Australia’s largest gold-mining company, climbed as much as 2.7 percent.

Gold has advanced 11 percent in 2011 after climbing for the past 10 years, the longest run of gains in at least nine decades. Central-bank buying and increased demand from individual investors has underpinned the rally. Dennis Gartman, the editor of the Gartman Letter, said in May that gold is the preferred “coin of the realm” during Europe’s sovereign-debt crisis.

Buy PEM before it's to late($)($)

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