ATMs Selling Gold Bars Coming To USASeptember 28th, 2010 - 7:46 pm ICT by GD
By Ranjan Bhaduri
Sep 28, (THAINDIAN NEWS) A German company known for installing and operating GOLD vending apparatus is soon going to introduce such machines in the United States and the machines will start functioning in 2010 itself as it has been reported. The name of the company is Gold To Go and it has plans to install at least hundreds of such machines in the USA in 2011. The first gold vending machine made by the company was installed in Emirates Palace hotel of Abu Dhabi earlier this year. Now the machines installed by the company are being used in a number of elite hotels in Madrid, Bergamo, Abu Dhabi and even Germany. This year the company will install 35 such machines, as a spokesperson of the company confirmed.
The Gold vending machines update the price of gold every 2 minutes so that the users can stay updated about the international price of the yellow metal. They can use credit card or cash to get small gold bars weighing from 1 gram to 1 ounce units and also coins. In USA the company is eyeing Florida as the first state to install the vending machine. Then it will target Las Vegas. It will be 2012 before the company reaches out to Asian countries like China and India as it said recently. It has said that it has deep interest in the Asian market.
The company gets gold bars from Swiss and German refiners and it tested the first machine in 2009. The gold price has been on an all time high this year and the experts are not too optimistic about it.
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