Gold Dispensing ATMs Hit Singapore

Singapore is now the 4th country to offer gold via an Automated Teller Machine. Two ATMs that dispense pure gold bars and coins made their debut in the country today.

The "Smart Gold ATMs" look a lot like normal, everyday ATMs but these are painted gold and instead of distributing cash, they give out gold bars and coins supplied by the Swiss Gold company PAMP. Bars are available in different sizes ranging from one to ten grams and conform to all international purity standards.

The machines will be operated by Asia Gold ATM Company and will feature multi-language support for Mandarin, Russian, and Arabic.

The gold prices are updated daily based on the Singapore Gold Price Index.

If you plan to travel to Singapore and would like to see one for yourself, the two machines are located at Resorts World Sentosa and Marina Bay Sands Resort.

Singapore is a popular travel destination for affluent vacationers from around the world and the country is another in a growing list that now offer gold ATMs. The UAE, United Kingdom, and United States already offer similar machines, though they are still somewhat rare.

The Asia Gold ATM Company is already making plans for 2 to 3 additional machines once convenient locations are decided upon.