Gold's record rally has even gotten Jamie Dimon's attention. Maybe he should go to Costco.

Core Insights - Jamie Dimon, CEO of JPMorgan, expressed a cautious acceptance of gold as a potential investment, suggesting it could reach prices of $5,000 to $10,000 per ounce in the current economic environment [1][2] - Gold has experienced a significant price increase, with a 63% gain in 2025, outperforming JPMorgan's stock, which is up 26%, and the S&P 500, which has risen by 12.5% [2] Market Dynamics - The surge in gold prices is primarily driven by central banks and large institutions purchasing gold in bulk, while private collectors in the US are also seeing substantial increases in the value of their gold assets [3] - The price of one-ounce gold bars has increased by over $1,300 in seven months, indicating strong demand despite high prices [4] - Sales of new gold coins and bars from some mints are beginning to decline due to elevated prices, although demand for physical gold remains robust [4][5] Consumer Behavior - High prices have not deterred consumers, as evidenced by strong sales at retailers like Costco, where gold bars are selling quickly [5] - There is a psychological threshold in the market that may stabilize prices temporarily, but profit-taking could occur as well [5][6] - Increased interest in gold among novice investors has been noted, partly attributed to retail experiences at places like Costco [6]