Wall Street’s fear gauge was set to rise Thursday – iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX) climbed 3%. [Volatility ETFs Thrive in Traders’ Market]

In currency markets, a Japanese yen ETF plunged 3% after the central bank intervened in currency markets. [Japanese Yen ETF Plummets]

In precious metals, SPDR Gold Shares (NYSEArca: GLD) rose 0.8% as investors grew increasingly worried about the sovereign debt crisis in Europe. Gold futures traded over $1,680 an ounce at one point Thursday morning.

Full disclosure: Tom Lydon’s clients own GLD.