Currently, gold is trading at $1,304 per ounce, up $21 or 1.7% today. Prices got as high as $1,320 earlier today.
The move comes in the wake of Washington's deal to end the government shutdown and raise the debt ceiling.
S&P estimates that the shutdown took $24 billion out of the economy.
With elevated uncertainty pressuring the economy, many economists expect the Federal Reserve to keep monetary policy easy via its $85 billion monthly asset purchase program.
