China Unveils Gold ATM That Checks Purity and Credits Your Bank Account in 30 Minutes

In a groundbreaking step towards financial innovation, China has launched an advanced gold ATM in Shanghai that allows users to deposit their gold and receive the equivalent amount of money in their bank account—all within just 30 minutes, as per news reports.

Gold ATM Offers Instant Payout After Melting and Purity Check

The ATM, set up in a Shanghai shopping mall by Kinghood Group, accepts gold items weighing over three grams with at least 50% purity.

Once deposited, the machine melts and assesses the gold, determining both its weight and purity. Based on current market prices, the machine then instantly transfers the corresponding amount directly to the user’s bank account, with no paperwork required.

The introduction of this ATM has led to massive interest, with people lining up to cash in their generational gold assets. In fact, appointments to use the machine are reportedly booked up until May, underlining the popularity of this gold-to-cash innovation.

Rising Gold Prices Drive Demand for Gold ATMs

During a demo, a 40-gram necklace was valued at 785 yuan per gram (roughly ₹9,200), resulting in a payout of over 36,000 yuan (approximately ₹4.2 lakh)—all completed within half an hour.

Accoridng to news reports, gold ATM is more than just a convenience, it’s a part of a wider trend. With global gold prices on the rise and growing purchases by central banks and institutional investors, individuals are increasingly looking to liquidate gold holdings.

From a business standpoint, the machine promotes gold recycling and monetisation, reflecting a shift in consumer behavior as gold becomes a liquid financial asset rather than just a store of value.

Read More: Gold Prices Near ₹1 Lakh Mark in India Amid Trade Tensions.

Conclusion

China’s gold ATM marks a significant step in financial tech evolution, offering both a secure and efficient way for individuals to turn their gold into usable cash. As gold prices remain on an upward trajectory, innovations like these are set to transform how people interact with traditional assets.

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