Abu Dhabi ATM Machine Dispenses 24K Gold

Abu Dhabi’s Emirates Palace is a $3bn government-owned hotel. Its a place for the people of the oil-rich Arab Gulf. Having that said, for no reason they made an ATM machine that dispenses gold in exchange for cash based on the latest prices. The ATM itself is covered in 24-carat gold. The ATM-style kiosk in the Emirates Palace monitors the daily gold price and offers small bars up to 10 grams or coins. Each bar or coin can be
custom-engraved.

The gold ATM Machine was unveiled on May 12 by Thomas Geissler, chief executive of Ex Oriente Lux AG. They billed as the first international foray for Geissler's "Gold to Go" brand. Geissler says he picked Abu Dhabi because of its high-rolling atmosphere and the region's traditional ties to gold in commerce.

The unveiling was timed well. Gold hit a record high Wednesday of more than $1,245 an ounce.

Source: yahoonews