Tuesday 26 September 2017

Gold on the go for UK shoppers

Richard Evans and Harry Wallop

It looks like any other vending machine. But rather than serving up sandwiches or fizzy drinks, this one dispenses gold bars.

Britain's first gold vending machine was switched on in a west London shopping centre yesterday, allowing ordinary shoppers to buy the precious metal as an investment.

Prices in the Gold to Go machine are updated every 10 minutes, reflecting the fluctuations in the world market, and range from a 1g coin for about £40 (€44) to a 250g bar for about £10,250 (€11,340). The machine takes credit cards.

The German company behind the machine, Ex Oriente Lux, is capitalising on gold's reputation as a safe investment, though many financial experts fear the price has risen too high and could fall sharply.

The gold machine, at Westfield shopping centre in Shepherd's Bush, is also expected to be used by gift seekers and offers a 2.5g bar with the London skyline engraved on it. (© Daily Telegraph, London)

Irish Independent

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