US EditionGold-melting ATM becomes sensation in China as users cash in on soaring prices
- China's Kinghood Group recently installed the world's first Gold ATM at a Shanghai mall.
- Soaring global gold prices drove a stronger public desire to cash out assets.
- The machine weighs, tests purity, melts gold items, and transfers cash instantly.
- Gold prices recently touched $3,400, surging more than 2% in one day's trade.
- The innovation captivated the public, drawing crowds and reshaping access to gold wealth.
10 Articles
10 Articles
Gold-melting ATM becomes sensation in China as users cash in on soaring prices
A newly launched Gold ATM in a Shanghai shopping mall is drawing large crowds as residents rush to convert their old gold jewellery into instant cash amid soaring global gold prices. According to Gulf New, the machine developed by Shenzhen-based Kinghood Group, the machine evaluates and melts gold items on-site, determining their purity and weight before transferring the equivalent cash—minus a small fee—directly into the user’s bank account wit…
‘ATM’ That Melts Gold Down, Sends Funds To Account Spotted In China
from ZeroHedge: With Chinese traders continuing to send physical gold premiums higher, a new ‘ATM’ has been spotted in Shanghai that accepts physical gold, melts it down, determines its purity and weight, and then sends funds to one’s bank account within 30 minutes. The machine, made by China’s Kinghood Group, will accept any gold items weighing over […]
The Automatic ComproOro arrives: from China the automatic machine that weighs the Gold, melts it and sends the money to the Current Account! - Economic Scenarios
In China , physical gold, the tangible kind, in jewelery and ingots, is increasingly used and widespread, perhaps a secondary effect of the dematerialisation of payments. In this situation, a new “ATM” has been identified in Shanghai that accepts physical gold, melts it, determines its purity and weight and then sends the funds to the seller's bank account within 30 minutes. LATEST: China unveils gold-to-cash ATMs that melt jewelry, verify puri…
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