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China Launches Gold ATMs in Shanghai Enabling Instant Gold-to-Cash Conversion.

International | Dated: 24 Apr 2025

In April 2025, China launched its first Gold ATM, an innovative financial service developed by Shenzhen Kinghood Holdings Group Company Limited, based in Guangdong, China. This machine offers a fast, fully paperless way for individuals to convert gold items into cash, significantly enhancing the convenience and accessibility of gold monetization.

🎯 Key Highlights:

  • - It assesses, melts, and weighs the gold, verifies its purity, and transfers the equivalent value directly to the user’s bank account—all within 30 minutes and without requiring any form of identification or documentation.
  • - The Gold ATM accepts gold items weighing more than 3 grams and with a minimum purity of 50%.

💡 Other Important Facts:

  • (i) The machine melts the gold at temperatures above 1,200°C, performs real-time purity analysis, and calculates the payout amount based on the current market price of gold.
  • (ii) A service charge of 18 yuan per gram (approximately ₹210) is deducted from the total value before the amount is transferred to the seller’s bank account.
  • (iii) This initiative marks a major step toward digital financial innovation in precious metals, bringing convenience, speed, and transparency to gold-to-cash transactions in China.

📚 Test Your Knowledge:

Which country recently launched Gold ATMs in Shanghai for instant gold-to-cash conversion?

Correct Answer: China

🚀 Quick Recap: