if these morons in congress that think commodity prices are only high because of "speculators" get their way and try and limit investment in commodities, then gold is going to be the big beneficiary of the move. limiting the ability of investors to hedge against inflation in ag ETFs or oil futures (for example), will only force them into more traditional inflation hedges, like physical gold and silver. and it would probably crush the dollar too, since it would drive more wealth offshore.
after all, before there were ETFs and futures, there was a reason that gold (and not oil or wheat for example) was a currency and considered a store of value. that's because currencies and stores of value have certain characteristics which gold also has (i.e. - scarcity, portability, etc).
it’s ironic, but if congress were to try to limit investment in commodities that consumers need, like energy and food, it would not only likely make inflation even worse since it would encourage hording. but it would also benefit gold the most since the yellow metal, which isn't a traditional "commodity" and hurts nobody but jewelery buyers if the price rises, would become the premiere liquid investment vehicle to hedge against rising inflation. as a big proponent of investing in gold in the current environment, i hope they do it!
commodity prices aren’t high because of "speculators.” they're high because of rising inflation, which is the result of too much money and credit. and we all know who produces that money and credit. if congress wants to blame someone, then blame greenspan and bernanke.