Price of gold continues to rise like the price of oil, making gold even more desirable. Seeing the trend, Abu Dhabi’s Emirates Palace Hotel decided to install an Automatic Teller Machine. Since this ATM is installed in a hotel which claims to be the most luxurious hotel in the UAE, it does not dispense money, in fact, it is more like a gold vending machine.
The gold plated machine offers 320 gold items for sale, that include customized gold coins to gold bars. Users feed the local currency Dirham into the machine, and walk away with the golden piece they choose. A computer updates the price every 10 minutes to ensure that the prices are on par with global market prices. Abu Dhabi is a region with high demand of gold, and German businessman Thomas Geissler thought it would be a great place for the gold ATM. And he was right. The machine has been doing good business and will soon start accepting credit cards as well.
Via: Telegraph
