Gold surges above $1,500, now has a better return than stocks this year

CNBC- "Gold rose to its highest level in more than six years on Wednesday as concerns about the global economy made the precious metal and other traditional safe havens more attractive than riskier assets like stocks...Wednesday marked the first time since April 2013 that gold traded above $1,500. The gains brought the metal's gains to more than 18%. That return is higher than the S&P 500's 14.3% year-to-date gain....Investors turned to gold at a time when the amount of debt trading at negative yield increases. Currently, there is $15 trillion worth of bonds with negative rates. This makes gold more attractive since it retains its value even in times of slower economic growth. Concerns over the global economy come as the U.S.-China trade war intensified with Chinese authorities allowing the country's currency, the yuan, to depreciate against the dollar while several central banks around the world cut interest rates....Jeffrey Gundlach, CEO of Doubleline Capital, sees further gains for the precious metal moving forward as yields keep falling. 'At this point, I think the way to think about it is, as long as the volume of negative interest rate bonds outstanding increases, it's quite likely that gold moves higher in a similar vein,' Gundlach told Yahoo Finance."