Singapore offers gold-dispensing ATMs

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Singapore has launched two Automated Teller Machines (ATMs) that dispense gold. The ‘Smart Gold ATMs’, painted in golden colour, are being launched at Resorts World Sentosa and Marina Bay Sands. Customers can purchase variety of gold products, including pure gold bars and coins, using cash or credit card. Singapore is the fourth country in the world to have gold ATMs, after the UAE, the UK and the USA.
The gold bars and coins delivered by the ATMs are supplied by renowned Swiss refiner, PAMP. The products conform to all international purity standards. Gold bars will be available in different sizes from one gram up to ten grams. The gold prices will be updated daily based on the Singapore Gold Price Index.
The custom-built machines will have multilingual support including Mandarin, Russian and Arabic. The other features of the ATM include user-interface customization and 3-D product display support.
The machines will be operated by Asia Gold ATM Company. According to the company, there is huge potential for gold-dispensing ATMs in Singapore, as the country attracts thousands of affluent tourists from across the world. It plans to launch 2-3 more such ATMs in the near future and is on lookout for convenient locations to base the ATMs.
Source:Bullion Bulletin

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