ATM dispenses gold in Singapore

Singapore is now home to other “Asia-first” feature first automated teller machines (ATMs) that dispense gold.
The ATMs are made by Asia Gold ATM, and they dispense variety made of pure gold ranging from 1 gram to 10 grams in size that produced by top Swiss refiner PAMP.

Two such ATMs have been installed in Singapore at Resorts World Sentosa and the other at Marina Bay Sands.

Asia Gold ATM said it decided to launch the machines domestically because of the city-state’s status as “a travel destination for affluent travelers and an increasingly important hub for the gold-trade industry.” The two resorts, in particular, attract high-earning individuals from around the world.

The gold products which are available in a variety of sizes from one to ten grams will have different prices daily depend on the global gold prices of the day and are adjusted automatically every day.
A one gram pendant cost $100 while a 10 gram one cost $660 in the day of launching.

The company behind the machines, Asia Gold ATM, says it plans to roll out two or three more machines in the near future as it eyeing for more other Asian countries to base the ATMs.

Asia Gold ATM also claims that the two in Singapore are the first in Asia.

Don is a prolific writer and a public speaker. He is an English Instructor. His passion in English has encouraged him to be part of Pabaon News.