UAE hotel unveils gold vending machine
Dubai, May 13, 2010
The super luxury Emirates Palace Hotel in Abu Dhabi has unveiled the region's first gold vending machine.
Apparently launched to cater to Asians' obsession with the yellow metal, the 'Gold To Go' machine gives out one, five and 10 gram gold bars as well as gold coins, according to a report in The Economic Times.
The gold vending machine which was formally opened today is the creation of a German company and gives an instant display of gold rates.
The hotel is calling it its 'Golden service'. Six gold coins of varied weights and engraved with symbols of gold-producing nations Canada, Australia and South Africa, are also dispensed by the machine.
The machine is protected by a range of security measures, including anti-money laundering software. It also tracks the gold price on fluctuating markets with an inbuilt website that transmits the information every 10 seconds, and updates the price accordingly every 10 minutes.