At a glance:Gold exploded to fresh record highs, surging above $5,580 before violent two-way volatility set in. Equities diverged sharply, with Indonesia plunging into correction territory while China property stocks surged. The rally peaked around $5,588 in morning trade before violent volatility set in, with prices plunging back toward $5,450 before rebounding again above $5,540 as this update was written. In FX markets, the Australian dollar pushed to a fresh three-year high as speculation around a potential RBA rate hike intensified. The US dollar weakened across the board, with EUR, GBP, JPY, CHF and CAD all advancing against the greenback.