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May 26, 2010

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Gold 18064-18764
Silver 28431-29650
Crude 3196-3380
Copper 314-327.5
Nickel 962.9-1062.5

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UAE opens world’s first gold ATM

ABU DHABI : World’s first Gold ATM started functioning at Abu Dhabi's Emirates Palace Hotel. The gold to go machine, developed by Germany's TG-Gold-Super-Markt, dispenses 24 carat one gram, five gram and 10 gram pieces of gold as well as coins bearing designs such as the Krugerrand, Maple Lea and Kangaroo. A computer in the machine, itself gold-plated, constantly keeps prices in line with the firm's online store. Gold rates are constantly updated inside the machine in the hotel's lobby, courtesy of a built-in computer connected to a dealer which sells gold online. This eliminates the risk premiums usually associated with precious metal trading," the German company said. Last May the company showcased a machine at Frankfurt railway station and claimed it would install 500 of them ATMs in Germany, Switzerland and Austria.

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