Fri 14 May 2010
Gold bars to go
At Abu Dhabi’s Emirates Palace Hotel, in the United Arab Emirates, they have installed a gold vending machine. You can put in local currency and get gold out. The hotel is one of the most expensive hotels to stay at in the world.
The machine dispenses 24-carat gold of 5 grams to 250 grams on inserting UAE dirhams. The machine sells gold at a premium. One gram of 24-carat gold currently cost at the machine is Dh175 while in the local market, it is available at Dh149.50. The machine updates it gold price every 10 minutes to match the gold price in the gold market.
The machine vends golds in a various of forms both bars and coins. It vends gold coins bearing logos of Emirates Palace, Krugerrand, Maple Leaf and Kangaroo.