Conversely, if you think gold has more room to run and large government deficits will inevitably lead to high inflation, then the Market Vectors Gold Miners ETF ( GDX ) might be the play. Or accept higher interest rates on any future bond offerings, which would likely lead to the rising inflation that many gold bugs expect. Unrest in the Korean Peninsula, along with economic concerns in Europe, are pushing up gold prices, decoupling the trade from the long-standing inflation fears.