Gold coin-dispensing ATM opens in India

Reuters Videos
Updated
5

STORY: No cash is flying out of this ATM,

just 24 karat gold coins

Location: Hyderabad, India

Customers can purchase a variety of

gold coins with a debit or credit card

(Pratap, Vice President of Goldsikka)

"These machines basically dispense the gold coins from 0.5 grams to 100 grams. (flash) So, total eight combinations are there and all the people, of whatever be the class, instead of going to jewelry showrooms, they can come here directly and they can get the coins here. So, these coins are 24 karat gold, 999 certified so, they will get their investment return as per the live price without any wastage."

The ATM can store up to 11 pounds of gold

India is the world's second-biggest gold consumer