please tell me you are joking.....
op - the dust shield could possible be rubbing on the rotor but it would be making the noise all the time. sounds more like a wheel bearing.
try loading the wheel bearing by getting some body roll and see if the noise gets any worse, if it does then its a wheel bearing. also you can put the car up, put your hand on the tie rod and spin the wheel, if you feel some grinding vibration then its that wheel.
i use the spinning wheel method when i cant hear which wheel is making the noise while driving it.