Gold News

Gold Buying made easier with first vending machine

Gold Buying on a small scale has been made easier and quicker than ever before, with the installation of a vending machine.

An Abu Dhabi hotel now houses the world's first ever gold vening machine, which dispenses bars of varying weights as well as gold coins.

The machine is continuously updated with the latest Gold Price information so as to ensure the commodity is bought and sold at the correct market value.

A statement from Ex Oriente Lux AG, the German company which created the machine, said: "In addition to one-gram, five-gram and 10-gram bars of gold, the machine also dispenses gold coins," reports Agence France Presse.

Sales at the vending machine could well increase, should the economic woes continue in Europe, with Caesar Bryan, portfolio manager of the Gamco Gold fund, suggesting that the current Gold Price increase is a direct result of the financial turmoil.

He told USA Today: "This run is absolutely about the concerns in Europe. Confidence in Europe inside and outside of Europe has been shaken."

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