Gold’s ‘semi-rational’ run gives Wall Street vertigo

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.