A unique gold ATM in Shanghai is making headlines across the world. This innovative machine, launched by China’s Kinghood Group, offers a complete, hassle-free process. It doesn’t just accept gold but also melts it down, verifies its purity and weight, and then transfers the exact value straight to your bank account, all within minutes.

To use the machine, you need to deposit gold items that weigh more than 3 grams and have at least 50% purity. The whole process is fast and simple. In just 30 minutes, the machine melts your gold, verifies its purity and weight, and sends the exact amount to your bank account, completely hassle-free, with no need for ID or documents.

Rising gold prices have sparked buzz among people eager to trade in their old jewellery, according to reports. The gold ATM in Shanghai has become so popular that people now need to book a time slot to use it. In fact, all slots are already fully booked until May, showing just how high the demand is, as reported by Chinatimes.com.

In a live demo, a 40-gram gold chain was dropped into a gold ATM in Shanghai. The machine tested the gold's purity, melted it down, and transferred over 36,000 yuan (around ₹4.2 lakh) to the seller’s bank account within just 30 minutes. At a rate of 785 yuan (around ₹9,200) per gram, the transaction was quick and hassle-free.

Sharing the news, Harsh Goenka, Chairman of RPG Enterprises, wrote on X: “Gold ATM in Shanghai: Drop your jewellery, it checks purity, melts it, calculates value, and credits your account instantly.” He also pointed out that this kind of technology could be a game-changer for India. “If this comes to India, traditional gold lenders might have to rethink their business models. Transparency in. Exploitation out,” Goenka said.

This gold ATM in China is more than just a high-tech machine- it represents a shift in how people are handling their gold. With gold prices going up and people looking for quicker, more transparent options, this machine shows how modern technology can turn an old tradition into a smarter, paperless process.

 

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