Today, London revealed its first gold vending machine that sells physical gold conveniently similar to an ATM machine. It started in Abu Dhabi and then spread to Munich, Madrid, and Vegas, to mention a few.
Is this a bubble sign or a bullish sign for increasing gold investment demand? We tend to agree with the latter.
The Telegraph reports the Gold to Go machine:
The Gold to Go machine, which sells gold at constantly updated prices, is unveiled at the Westfield shopping centre in London on Friday.
The German company behind the machines, Ex Oriente Lux, is capitalising on gold's traditional status as a safe haven investment in times of economic turmoil.
Westfield's gold ATM will sell bars and coins in various sizes, including a special 2.5g bar with the London skyline engraved on its reverse.
Ex Oriente Lux said its products were sold in "top quality" boxes and were "a great gift idea". The 1g gold bar, costing about £41, was "about as cheap as a bouquet of flowers but sure not to wither".
It added: "Gold to Go provides private investors with easy, convenient access to physical gold at fair, real-time prices. The ATMs are always online and update their prices every 10 minutes."
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