Greater Noida (Business Desk): In an unique initiative towards making gold trade digital and seamless, a state-of-the-art ‘Smart Gold ATM’ has been launched at a mall in Shanghai city of China. The biggest feature of this machine is that it allows users to sell their gold jewellery in just 30 minutes without any paperwork. The service is backed by Kinghood Group, which has designed this machine so that the general public can easily convert their gold assets into cash – especially at a time when gold prices are at record highs. This gold ATM is technologically very advanced. After putting the gold jewellery in the machine, it automatically analyses it, melts it, weighs it and checks its purity. After this, the evaluated amount of the jewellery is transferred directly to the user’s bank account.
The machine accepts only gold jewellery that is at least 50% pure and weighs more than three grams. The entire process is fast, transparent and user-friendly, offering a much easier and quicker alternative to traditional jewellers.
Growing crowds and huge demand for bookings
According to local media reports, the launch of this new service has created quite a stir in the city. A large number of people are lining up to sell their heirloom and generation-old gold, especially at a time when gold prices are rising globally.
According to Chinatimes.com, all appointment slots for using this machine till May have already been booked. This makes it clear that people are very excited about this service and are considering it a good opportunity.
A gold ATM in Shanghai, China
It melts the gold and transfers the amount corresponding to its weight to your bank account.
— Tansu Yegen (@TansuYegen) April 19, 2025
A look at the deal: Rs 4.2 lakh for 40 grams necklace
During the demonstration, an instance came to light in which a person put a 40-gram gold necklace in this machine. At that time, the price of gold was 785 yuan per gram, i.e. about ₹9,200 per gram. According to this, the person received a payment of 36,000 yuan – about ₹4.2 lakh in just 30 minutes. This is not only a proof of convenience, but it also shows how technology can convert even traditional assets into instant digital form.
Expert opinion: This is just a beginning
According to Xu Weixin, a member of the Shanghai Gold Association, the main purpose of such smart gold ATMs is to promote gold recycling. “Today when gold prices are skyrocketing, people want to convert it into cash quickly,” he said. According to him, due to the increase in gold reserves by central banks and institutional investors globally, its demand has increased, due to which the general public also wants to take advantage.
Interest is growing in many countries including India
This trend is not limited to China only. Countries like India, which is among the world’s largest gold markets, are also seeing a surge in investment and resale demand.This gold ATM is an example of how modern technology is reshaping traditional asset management — and the changes are only just beginning.
