Thursday, May 13, 2010

Gold ATM Debuts in Abu Dhabi

The Emirates Palace Hotel unveiled a machine that dispenses 5- and 10-gram bars of pure gold as well as a 1-ounce bar and gold coins. The machine monitors changes in the price of gold and updates its rates every 10 minutes. Bars and coins come with a customized design.

Thomas Giessler, the German entrepreneur behind the idea, chose Abu Dhabi because of its high-rolling atmosphere. Geissler said he hopes his Gold to Go machine will tie in nicely with the region's traditional ties in gold commerce.

(Thanks to Viresh Amin.)

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