The pile of negative-yielding global debt – the ones that cost investors money for holding them – has climbed to $16.3 trillion. That’s the highest tally since April 2019 and just shy of a record high of $800 billion, as noted by macro analyst Holger Zschaepitz.
The ballooning amount of global debt with negative yields is a bullish development for gold, a zero-yielding haven, and an inflation hedge.
The yellow metal is currently trading at $1,896 per ounce, representing a 0.28% drop on the day. Gold reached a record high of $2,075 on Aug. 17, having bottomed out near $1,450 in March.
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