JPMorgan takes gold collateral, inflation in focus

Interesting how gold, often described as a barbaric relic of past monetary systems, continues to find uses in present monetary systems.

J.P. Morgan Chase said on Monday it would accept physical gold as collateral with its counterparties as a growing number of clients look to use bullion as a hedge against inflation.

The bank, which is one of the custodians of physical metals for some of the world's largest precious-metal backed exchange-traded funds, said it would take gold as collateral to satisfy securities lending and repurchase obligations with counterparties.

Source: reuters.com