Gold’s ‘semi-rational’ run gives Wall Street vertigo
If American households start to see that it is an essential hedge against inflation and devaluation of the greenback, then the sky is the limit
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WALL Street has finally capitulated to gold’s record-breaking run.
JPMorgan Chase chief executive officer Jamie Dimon’s reluctant endorsement was the inflexion point.
“This is one of the few times in my life it’s semi-rational to have some in your portfolio,” said Dimon, adding that he was not a buyer, because “it costs 4 per cent to own it”, referring to what he could have earned in money markets instead.
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