The Emirates Palace Hotel Has a Gold-Giving ATM
Allison Love — May 14, 2010 — Business
The Emirates Palace Hotel's gold-giving ATM is the first one of its kind, giving out 10 gram 24-karat gold bars instead of the usual cash. Abu Dhabi is turning to gold bars to replace money with their gold-dispensing ATMs, blaming the ‘uncertain economic times’ on the switch. To add another level of insanity, the gold bars can be engraved, just to prove your net worth.
The gold-giving ATMs monitor the stock prices of gold, and will dispense amounts accordingly. What store would actually accept gold as a form of payment? And more importantly, what happens if you need change?
The gold-giving ATMs monitor the stock prices of gold, and will dispense amounts accordingly. What store would actually accept gold as a form of payment? And more importantly, what happens if you need change?
Trend Themes
1. Gold-giving Atms - Gold-dispensing ATMs are replacing cash machines, offering an innovative way to obtain gold bars.
2. Engraved Gold Bars - ATMs that dispense 24-karat gold bars allow customers to personalize and prove the value of their assets.
3. Monitoring Gold Stock Prices - ATMs that monitor gold stock prices can adjust the dispensed amount, offering convenience and flexibility to gold investors.
Industry Implications
1. Banking - Banks and financial institutions can explore gold-giving ATMs as a way to attract and serve gold investors.
2. Luxury Hospitality - Hotels and resorts can offer gold-giving ATMs as a premium service for wealthy guests looking for unique experiences.
3. Precious Metals Industry - Companies in the precious metals industry can leverage gold-giving ATMs to facilitate the purchase and distribution of gold bars.
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