BRICS member China has announced the world’s first gold ATM to melt, test and convert gold into instant bank transfers. ATMs have already witnessed a long queue of people trying to sell intergenerational money. Users will need to book a reservation to use it, and according to early reports, the reservation slot will be full until late until May.
China China announces the world’s first gold ATM to melt, test and convert gold into instant bank transfers. pic.twitter.com/xgbzpvdqtp
– Brics News (@bricsinfo) April 21, 2025
Gold ATMs are operated by the Kinghood Group in China and are located in a mall in Shanghai. The weight of the machine is measured, checked for quality, analyzed gold, then analyzed gold, then equivalent to the price entered. The ATM is designed to accept items of gold at least 3 grams with a purity of at least 50%.
“The introduction of Smart Gold ATMs will primarily serve recycling functions from a business standpoint. This reflects the fact that rising gold prices will significantly increase the value of gold in general, leading to a strong desire to cash out. “There is still a strong upward momentum in gold, driven primarily by central banks and institutional investors accelerating the purchase of gold.”
Xau/USD will skyrocket as China begins using gold ATMs
Furthermore, development from China comes from a surge in gold prices around the world. Certainly precious metals We touched on the $3,400 historic milestone on monday. The Xau/USD index, which tracks precious metal performance, showed that the commodity spiked 70 points, spiked more than 2% in a day’s trading. Spot Gold prices have risen nearly 30% since the start of the year, creating a stark return for investors. Commodity traders who have won entry positions this year are benefiting when the metal is heading north. This is the highest sparkling metal surge in the last four months since 2010.
With a stable but endless accumulation of gold, China’s new gold ATMs could potentially increase prices by the end of 2025. Senior Bloomberg strategist Mike McGrone recently predicted that Metal could soon reach the $4,000 mark. “We’re putting about $3,000 on a pretty good base right now,” McGrone said. “It’s going to be heading towards $4,000. The problem is time. In the meantime, everything was going to be spent on traders.”
