Dimon expressed a measured view on gold ownership whilst acknowledging its potential value in current circumstances.

Jamie Dimon, the JPMorgan Chase & Co CEO, who is long known to be a skeptic on gold investment, has said that he now sees a ‘semi-rational’ in having the yellow metal as part of your investment portfolio.Gold prices have surged significantly, rising from under $2,000 two years ago to remarkable levels, outperforming equity markets in the 21st century. This upward trend reflects investors seeking refuge in secure assets, driven by inflationary pressures and global political tensions.

Jamie Dimon’s View on Gold

While stating that he is not a buying of gold, Dimon acknowledged that gold prices could go up to as high as $10,000! “I’m not a gold buyer — it costs 4% to own it,” Dimon said this week at Fortune’s Most Powerful Women conference in Washington. Dimon expressed a measured view on gold ownership whilst acknowledging its potential value in current circumstances.“It could easily go to $5,000, $10,000 in environments like this. This is one of the few times in my life it’s semi-rational to have some in your portfolio,” he was quoted as saying by Bloomberg.“Asset prices are kind of high,” Dimon said, and “in the back of my mind, that cuts across almost everything at this point.”Ken Griffin, the billionaire founder of Citadel, expressed concern last week about investors increasingly perceiving gold as a more stable alternative to the dollar, describing this shift as “really concerning.”Goldman Sachs has adjusted its gold price prediction for December 2026 upwards to $4,900 per ounce, an increase from the previous $4,300, attributing this change to significant Western ETF investments and anticipated central bank purchases.“We see the risks to our upgraded gold price forecast as still skewed to the upside on net, because private sector diversification into the relatively small gold market may boost ETF holdings above our rates-implied estimate,” Goldman said according to a Reuters report.HSBC has increased its projected average gold price for 2025 to $3,355 per ounce from $3,215, attributing the rise to heightened safe-haven interest amidst global political tensions, financial instability, and declining US dollar strength.“Sentiment remains bullish as rallies are expected to continue in 2026 aided by official sector buying and institutional demand for gold as a diversifier,” the bank stated in a note dated October 15.HSBC revised its gold price projection upward, setting a new average target of $3,950 for 2026, an increase from its previous estimate of $3,125.ANZ’s latest analysis predicts gold prices will reach $4,400 per ounce by end-2025, citing several factors including heightened geopolitical tensions, economic instability, financial market uncertainties, and anticipated Federal Reserve interest rate reductions.The bank expects gold valuations to achieve their highest point around $4,600 per ounce in June 2026, before trending downward in the latter half of 2026, coinciding with the end of the Federal Reserve’s easing programme and increased certainty regarding US economic expansion and trade policy directions.