Is GOLD Leading YIELD Higher?

Spot Gold has hurdled-- and is sustaining above-- its prior significant rally peak at $1307.40, which has the right look of completing a meaningful April-June rounded-bottom pattern, which, if accurate, indicates that GOLD has entered a new upleg from its May 30 pullback low at $1199.84, which projects next to $1440-$1470.

Only a break below the post-Brexit spike low at $1244.74 will wreck the developing bullish set-up.

As for 10-Year YIELD, the Brexit reaction represents the third time in 2016 that YIELD approached or pierced 1.50%, which for the third time appears to be containing a falling YIELD structure.

This needs to be watched carefully (for another buying opportunity in the ProShares UltraShort 20+ Year Treasury (TBT)’s).