Abu Dhabi Launches First 'Gold ATM'

Gold Vending MachineI finally got rid of my jug of quarters!

Photo: AFP

Gold ETFs beware, the Emirates Palace hotel in Abu Dhabi just installed a ‘Gold to Go’ vending machine.It’s the second of its kind, after one in Germany, says Ex Oriente Lux AG, the company who makes them.

AFP:

“In addition to one-gram, five-gram and 10-gram bars of gold, the machine also dispenses gold coins,” it added.

Gold rates are constantly updated inside the shiny machine — itself gold-plated — in the hotel’s lobby, courtesy of a built-in computer connected to a dealer which sells gold online.

Here’s another picture of the machine from Ex Oriente’s website.

Gold Vending Machine

Actually, note it is actually described as a ‘gold ATM’, so here it is, the expansion of gold as a currency. It looks like you can be an investor too.

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