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Gold Atm China: Recently, a shopping mall in Shanghai became home to a unique gold ATM that changes the game in jewelry selling. Instead of selling gold coins, this machine lets people sell their jewelry and get the cash, conveniently deposited directly into one’s bank account in 30 minutes. No paperwork needed.
What Is The Gold ATM
This gold vending machine uses modern technology. A smart ATM melts and weighs gold jewelry while also assessing its purity. The ATM uses jeweller’s mark as a unit or handles specimens from 3 grams and above 50 percent purity. Clients fetch between 3 grams and more which is accepted by the Gold ATM.
Massive Popularity Among The Public
According to reports, this is bound to set the public response to a new level as they expect long lines and high demand for the ATM. People look forward to cutting old or heirloom jewelry and gold prices for this reason are at record levels. As per Chinatimes.com, the bookings are banged back up in May, which means surged people must still be under the offer while trading in gold coins.
Quick Earnings with Effortless Clarity
Just 30 minutes of work yielded 36,000元 (~INR 4.2 lakh) through gross purchases alone as the selling price was pegged at 785元/inr9,200 per gram with a 40g gold necklace necklace selling as well. This level of effectiveness and clarity has won a lot of users' admiration.
Gold Recycling Initiative
Xu Weixin, a member of the Shanghai Gold Association, has given the ATM the credit for recycling gold. He remarked that golds increasing prices do promote people to sell their jewelries. This is because of large investments from big central banks and other institutional investors.
India Also Shows Rising Demand
India, one of the largest gold consumers of the world, has also shown increased demand and surging prices. There is a lot of activity from Indian consumers for investing in gold in addition to selling it too.
What Makes This ATM Special?
Time has been saved tremendously for users as this gold ATM optimizes the process for selling jewelry by eliminating the hassle of waiting in long queues, providing instant payment with no paperwork involved with the transaction.
