• Source:JND
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As global gold prices hit record highs, people around the world are looking for new ways to convert their gold into cash quickly and conveniently. In China, innovation has taken this process to a whole new level — with the introduction of a Gold ATM that can melt, assess, and credit cash to your bank account in just 30 minutes.

Developed by China’s Kinghood Group, this futuristic ATM is a game-changer. Unlike traditional gold lending shops or pawn brokers, this machine eliminates paperwork and waiting time. All it requires is that the gold item being sold weighs more than three grams and has a purity of at least 50 per cent.

Once you insert the gold item — be it a chain, coin, or ring — the machine begins the process by melting it at 1,200°C. Advanced sensors then assess its purity and weight. Based on the Shanghai Gold Exchange's real-time prices, the machine calculates the payout. After deducting a small service fee, it directly transfers the cash to the seller’s bank account within half an hour.

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A Look At Numbers

In a recent demonstration, a 40-gram gold chain fetched 785 yuan per gram (approximately ₹9,200 per gram). The total amount credited? Over 36,000 yuan, or Rs 4.2 lakh, deposited in the account within 30 minutes — no ID, no paperwork, and no human interaction.

Features at a Glance

 - Minimum Requirement: >3 grams, >50 per cent purity

 - Processing Method: Melting and sensor-based purity analysis

 - Valuation: Based on real-time Shanghai Gold Exchange rates

 - Payout: Direct bank transfer (after service fee)

Time Required: 30 minutes or less

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Reactions From Public

The viral video showcasing the ATM sparked a range of reactions online. While many were impressed by the convenience and tech involved, others voiced concerns.

One skeptical viewer commented, “I do not trust this kind of machine as there may be high chance of manipulation in that machine.” On the other hand, another excited user wrote, “Gold ATM in Shanghai? 💳✨ Just when you thought your bank couldn’t get cooler, it starts melting gold!”

Glimpse Into Future?

Whether it’s hailed as revolutionary or risky, China’s Gold ATM certainly reflects how technology is transforming the way we interact with precious metals. With such machines, the age-old practice of trading gold is stepping into the digital fast lane — making it faster, simpler, and possibly smarter.