Gold Vending machines

Gold Vending machines - World's first and China's first,Coming soon to India too!!!!!

CHINA, the world's second largest bullion consumer, has just installed the country's first gold vending machine.

The world’s first gold vending machine was unveiled in Emirates Palace hotel in Abu Dhabi on May 13 and the machine itself is 24 carat gold-plated.
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The “Gold To Go” machine gives out one, five and 10 gram gold bars as well as gold coins and is the creation of a German company and gives an instant display of gold rates.
The machine itself is linked to a computer which updates the price every ten minutes depending on the current market price of gold.

Gold vending machines currently exist in Britain, the United States, the Middle East and Gold vending ATMs may become a reality in India too soon !!!!!

Chinese consumer demand for gold soared 27 per cent year-on-year to 579.5 tonnes in 2010, according to the World Gold Council.

India, the world's top consumer, saw a 66 per cent increase to 963.1 tonnes.