• Source:JND

Hyderabad News: Selling gold is no longer limited to jewellery shops and long negotiations. In a first for India, a fintech company has introduced an AI-powered Gold ATM that allows people to sell old gold and receive money directly in their bank accounts within minutes.

The facility has been launched in Hyderabad, Telangana and is aimed at offering quick liquidity without paperwork or delays.

What The AI Gold ATM offers

The ATM has been introduced by Goldsikka, a company known for digital gold solutions. The machine enables users to convert gold into cash without interacting with traders or visiting multiple stores.

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Earlier, customers had to wait hours for purity checks, valuation and price negotiations. The new system automates the entire process.

How The Process Works

The AI-powered ATM completes the transaction in about 30 minutes.

Step-by-step process:

  • Gold melting: The customer places the gold inside the machine, which melts it immediately

  • Purity and weight check: AI technology assesses purity and weight with high accuracy

  • Instant valuation: The system calculates the value based on live market rates

  • Direct bank transfer: The final amount is credited directly to the customer’s bank account

Officials say the system is transparent and removes human intervention.

More Than Just Selling Gold

The Gold ATM also offers additional features:

  • Virtual jewellery try-on: Using AR technology, customers can see how jewellery looks on them

  • Gold coin purchase: Coins ranging from 0.5 grams to 100 grams can be bought directly

  • 24/7 access: Services are available round the clock

Security And identity checks

To prevent misuse, strict safety measures have been put in place. Customers must complete KYC verification before starting a transaction. The system also checks criminal records, and any suspicious activity results in the transaction being blocked.

Expansion Plans Ahead

Goldsikka currently operates 14 conventional Gold ATMs in India and three overseas. The company plans to install around 100 AI-powered Gold ATMs across India and abroad within the next year. Full commercial rollout will begin once regulatory approvals are received.


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