China unveils the world's first Gold ATM that melts, tests, and converts gold into instant bank transfers

China has unveiled the world’s first Gold ATM that melts, tests, and converts gold into instant bank transfers. The ATM has already witnessed long queues of people trying to sell off their generational gold. Users need to book an appointment to use it, and according to early reports, appointment slots are full until as late as May.

The Gold ATM is operated by China’s Kinghood Group and is installed at a mall in Shanghai. The machine weighs, checks the quality, and analyses the Gold before dispensing the money equivalent to the price that was put in. The ATM is designed to accept gold items of over three grams with a purity of at least 50 per cent.

“The introduction of smart Gold ATMS primarily serves a recycling function from a business perspective. This reflects the fact that, with rising gold prices, the value of gold held by the public has increased significantly, leading to a stronger desire to cash out,” Wion quoted Xu Weixin, a member of the Shanghai Gold Association, as saying. “There is still strong upward momentum for gold, mainly driven by central banks and institutional investors accelerating their gold purchases.”

Here’s how it works:

1. Insert Your Gold – The machine accepts coins, bars, and old jewellery.

2. Purity Scan – An onboard spectrometer tests the gold’s authenticity and carat level in real time.

3. Live Valuation – Based on current spot prices, the ATM calculates the exact market value.

4. Cash Out – Funds are instantly transferred to your linked bank account or issued via a digital wallet.

Why this matters:

It’s a direct challenge to traditional banking and fiat-based liquidity systems.

It puts gold back into everyday circulation, turning a traditionally static asset into an instantly usable form of cash.

It reflects China’s ongoing push to de-dollarize its economy and move towards asset-backed transactions.

This also comes at a time when gold demand is soaring globally, central banks are stocking up on bullion, and public trust in fiat systems is steadily eroding.

What’s next? If this Gold ATM model spreads globally, it could:

Revolutionise personal finance in gold-rich cultures.

Empower citizens to bypass banks entirely.

Accelerate the shift toward tangible value systems in a world drowning in printed money.

China just weaponised gold most practically yet. While the West debates CBDCS and interest rates, the East is melting gold and turning it into spendable cash instantly.

Real assets. Real power.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Space FM.