The major gold miners just wrapped up another quarterly earnings season, reporting great results. Sector unit profits continued blasting higher on stable production, lower mining costs, and record prevailing gold prices.

This week, the U.S. introduced a new series of tariff increases on Chinese imports, amounting to over $18 billion worth of goods.

Bloomberg reported that China is selling a record amount of US debt while buying gold. Previous reports of debt selling were false.

SPY has risen for three straight weeks and is trading at a record high of $530 while QQQ has soared to $452.