Buy Gold from ATMs at realtime prices – Gold To Go

We Indians are more crazier for gold than any other people across the globe. Be it any family functions, gold find its place. And, festivals are yet another reason for us to buy more gold. Ever since the global financial meltdown in 2008, gold prices have been skyrocketing, as more investors are seeing gold as a safe investment. Nevertheless, this yellow metal has become an attractive investment option also and here is one good news for such gold investors.

We are soon to get Gold ATMs. Yes, ATMs where we can buy Gold at the latest prices. German based Ex Oriente Lux AG is in talks with Indian companies for setting up the gold dispensing ATMs in the country. We are still not sure on who the Indian partners for these Gold ATMs are.

The Gold ATMs aka ‘Gold to go’, made its debut in Abu Dhabi earlier this year. These ATMs can disburse upto ten different products and their real time prices are updated every ten minutes, according to the company’s website. Gold ATMs are currently in operation in four countries – UAE (Abu Dhabi), Germany, Italy and Spain.

Gold ATM – sounding like a good idea. I doubt if this concept would even pick up in this country as people prefer to goto Jewels shop, feel the gold (even if it is a simple gold coin) before buying anything. But, if banks are able to sell gold coins, then these ATMs should also be able to. Anyway, lets wait and watch how these Gold ATMs reception are.