Here’s a trend that I find interesting: The ability to purchase gold through ATM-like machines branded Gold To Go.
We first saw these machines appear this spring in Abu Dhabi’s Emirates Palace Hotel and in Germany. I remember wondering about the kind of investors who would seek out these machines.
As it turns out, the response has been so overwhelming that the company that makes Gold to Go is planning to install these vending machines in a Florida resort as well as a casino in Las Vegas.
Gold To Go dispenses gold bars and coins up to an ounce at a time. But because the price of the precious metal fluctuates, the machine has to adjust every ten minutes. The machine offers ten different products and buyers can get their gold in their own country’s identity—such as a Canadian maple leaf coin.
Users simply insert their cash or credit card, but the machine limits the purchase amount to prevent misuse like money laundering.
This isn’t for just any investor. As I write this, gold is priced at just over $1,300 an ounce! What do you think? Would you buy gold from a Gold To Go machine?