DIvya Delhi:  In a Shanghai mall, a gold jewelry ATM allows consumers to sell their jewelry and receive paid within 30 minutes. Interestingly, no paperwork is needed. This “smart gold ATM” from China's Kinghood Group analyzes, melts, weighs, and determines gold purity before transferring the equivalent money to the seller's bank account. Notably, this ATM accepts yellow metal goods exceeding 3 grams with at least 50% purity. Media sources say the crowd is waiting to sell yellow metal jewelry and heirlooms to the machine. As global prices rise, the crowd gives up their generational precious gold. A catch exists despite all the sparkle. Chinatimes reports that all machine appointments are packed until May. A 40-gram gold necklace sold for 785 yuan per gram (approximately Rs 9,200) during the machine demo, yielding Rs 4.2 lakh (36,000 yuan) in 30 minutes. This appears like a future invention and a trend, as analysts suggest public gold holdings are becoming valuable, prompting more people to cash in.“Smart gold ATMs are primarily for business recycling. With rising yellow metal prices, there’s a stronger desire to cash out. Central banks and institutional investors raising their gold holdings are driving the rising pace, Shanghai Gold Association member Xu Weixin told local media.











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