Wednesday's spot gold pushed through its major resistance line from the Sept. 2011 high at $1921.50, which cut across the price axis in the vicinity of $1353.
As long as gold remains above the down trendline, the set-up points next to a challenge of key resistance at $1400, up to the Aug. 2013 high at $1434.
And Wednesday's yield on the 10-year US Treasury Bond hit a new all-time low at 1.31%, but then reversed up to 1.38%, which places yield in positive territory for the session.
At the same time, spot gold has maintained its "bid", while yield has reversed, which might indicate that money-flows searching for safety may have reached near-term exhaustion in the benchmark US Treasury and is now laser-focused on protection in the gold market.
If that proves to be the case, then gold could head into a violent blow-off of its own in the coming hours/days ahead.
