Zero Coupon Gold

Maybe someday
Saved by zero
I'll be more together
--The Fixx

In this Q&A, Jeff Gundlach explains one of the drivers currently at work on gold:

"The thing about gold is, the price movement of gold has been very highly correlated, not surprisingly, to the outstanding volume of negative yielding bonds. When you have $16 trillion of negative yielding bonds, that's $16 trillion where people might say, I think I'll go for the higher yielding thing that yields zero--that thing being gold."

A historic knock against gold is that it is just a rock that pays no dividend. Well, now that there's trillion$ in securities worldwide sporting negative yields, gold's zero coupon look relatively attractive.