Jin10 data reported on October 15th, JPMorgan CEO Jamie Dimon stated that he believes there is a certain logic to holding gold, but he declined to comment on whether gold is overvalued after experiencing a historic big pump. Dimon said, “I'm not a gold buyer — the cost of holding it is 4%. But in an environment like the current one, its price could easily rise to $5,000 or $10,000. This is one of the few times in my life that I feel it's 'somewhat reasonable' to hold some gold in a portfolio.” Dimon added that “asset prices are generally too high” and pointed out that “in my mind, this almost involves all asset classes.” Last week, Citadel's founder Griffin stated that investors are starting to see gold as safer than the dollar, calling this development “truly concerning.”
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