US yields plunge, and equities rally after President Trump commented that he might not impose tariffs on China. Gold is back on track to hit the all-time high of $2,790 and is set to close off the week with a firm gain.

Investors turned more bullish on gold as President Trump was signing the various Executive Orders that would begin enacting his aggressive policies. As a result, the SPDR Gold Shares ran through the top of its range at $250, initiating what is referred to as a “Volatility Rally”.

President Donald Trump said he’d prefer not to have to impose tariffs on China, his latest dovish remark toward the world’s second-biggest economy even as he continues to threaten sweeping action.