Dimon Says It’s ‘Semi-Rational’ to Hold Gold in Your Portfolio

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he sees some logic in owning gold, while declining to say whether he thinks the precious metal is overvalued after a historic run-up.

“I’m not a gold buyer — it costs 4% to own it,” Dimon said Tuesday at Fortune’s Most Powerful Women conference in Washington. “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.”