Imagine an ATM machine which instead of paper bills dispenses gold bars? Abu Dhabi has recently introduced a whole new way to get gold. The Emirates Palace Hotel in Abu Dhabi is reportedly the first to install the “gold to go” machine– the world’s first gold vending machine.
The machine itself is plated in gold. “In addition to one-gram, five-gram and 10-gram bars of gold, the machine also dispenses gold coins,” stated the German company who makes the machine, Ex Orient Lux AG. In addition, the machine updates the rises and falls in the price of gold. This lowers the risk premiums which are usually associated with metal trading the company asserted. There are also six coins of different weights which come engraved with a maple leaf, kangaroo and kruggerrand all symbols referring to the gold producing nations of Canada, Australia, and South Africa. After the eight-week launch period finishes gold bars will be engraved on one side with the Emirates Palace logo.
The new machine attracted quite a crowd when it debuted just a few weeks ago. So for the wealthy living in Abu Dhabi this is where you go to get your gold.