Switzerland's central bank's decision to drop a three-year-old cap on the Swiss franc against the euro spurred a currency frenzy on Thursday. The franc floated more than 25 percent against the dollar and jumped as much as 30 percent against the euro at points in the day's trading.
The move set off the potential for a variety of profitable plays, ranging from commodities to global stocks and exchange-traded funds. For CNBC "Fast Money" trader Tim Seymour, the "seismic" currency event immediately signaled a boost for gold.
"Gold has been starting to break out. This pushed gold through key levels," Seymour said.