Skip to main content

Gold hits highest quarterly sale in 2010, 2011. India China leading consumers. China get gold ATMs. United States, Germany, Italy and the United Arab Emirates already have them.

The world too is seeking more monetary security in gold, buying 919.8 tonnes of the shiny metal worth $44.5 billion in the second quarter of 2011. It was the second-highest ever quarterly value recorded, says the latest World Gold Council's Gold Demand Trends (GDT) report released in August. It was fractionally below a record $44.7 billion in the last quarter of 2010

On September 25, China joined the United States, Germany, Italy and the United Arab Emirates, in having ATMs that dispense bullion and gold coins. In Beijing's 800-year old Wangfujing shopping district, buyers can now use bank cards and cash to induce the machine to pop out certified gold. 

A scanner attached to the ATM recognizes the two-dimensional bar code in each gold bar or coin dispensed. The scarlet and yellow ATM with a touch screen dispenses gold bars and coins of various weights. Prices are based on current market rates and updated every 10 minutes. 

Each withdrawal at the Wangfujing ATM is capped at 2.5 kilograms of gold, worth about $156,500. The gold ATM will have no shortage of audience - each day, over a million people visit this 1.5 kilometer stretch from East Changan Street to the China Art Museum.

The world too is seeking more monetary security in gold, buying 919.8 tonnes of the shiny metal worth $44.5 billion in the second quarter of 2011. It was the second-highest ever quarterly value recorded, says the latest World Gold Council's Gold Demand Trends (GDT) report released in August. It was fractionally below a record $44.7 billion in the last quarter of 2010.


Read full at: http://www.atimes.com/atimes/South_Asia/MJ06Df01.html
Labels:

Comments

Post a Comment

Popular posts from this blog

Best IELTS and English language training institutions in Hyderabad

IELTS stands for International English Language Testing System. As the name implies it is basically an English test for testing the proficiency of the language in an individual.  Training for IELTS can be taken to pass the IELTS exam or to develop good english language skills. I am giving the training institute addresses for Hyderabad. The test system is jointly managed by the British Council,IDP education ltd and University of Cambridge ESOL Examinations and more than 1 million candidates are taking the exam all over the world. The test has two versions : 1. Academic 2. General training Academic  version is for people who plan to continue their higher education by enrolling in universities in countries like US,UK,Australia,Canada,New Zealand etc.The academic institutions in these countries consider the IELTS score as a criteria for the admission process. General training is mostly for immigration purposes in countries like Australia,New Zealand,Canada etc. It may ...
9 comments
Read more

Great places to eat in Lucknow

  1. Idris Hotel Located Opposite Patanala Police Station, Chowk-  Officially the best biryani in all of Lucknow . They have the softest meat and the most divine aroma when the waiter brings the biryani to you! "Idris ki Biryani" as it is popularly known.. Here Is The Man Behind Creating This Magical Biryani-the son of Idris ji Source: yummraj.com 2. Tunday Kababi Located in Naaz Cinema Road, this legendary place has the best  mutton korma with sheermal-  the gravy is so rich in flavors, you want to just take an eternity while eating every bite! Source:  www.the-south-asian.com 3. Royal Cafe Located in  51, Hazratganj- This place is famous for it's basket chat.  Aloo tikki, dahi bara, matar kulcha are some of the dishes one must certainly try and  they are hygienic as well . ( they seve gol gappas made wit mineral water) Source: coralswithblues.com 4. Kool Break Located in 17...
1 comment
Read more

Foreing exchange reserves of countries and what percent of the amount is in Gold holdings

Countries which have become stronger economically have not accumulated gold till recently but now as European nations are selling gold, they are buying it and making their position strong. Foreing exchange reserves of countries and what percent of the amount is in Gold holdings . courtesy Peter Schiff's speech: Cyprus 1.1 billlion 58% Greece 7.1 billion 82% Portugal  22 billion 90% in Gold Spain 50 billion 30% in Gold Italy 175 billion 72% in Gold France 179 billion  71% in Gold Slovakia 2.5 billion  68% in Gold Netherland 53 billion 60% in Gold Belgium 30 billion  39% in Gold China 3.3 trillion 2% in Gold Japan 1.25 trillion 3% in Gold Saudi 627 billion  3% in Gold Russia 527 billion  9% in Gold Swit 522 billion 11% in Gold Taiwan 423  billion 6% in Gold Brazil 373billion  0.5% in Gold South korea 327 billion 1% in Gold Hong kong 304 billion  0% in Gold India 290 billion 10% in Gold Singapore 259...
1 comment
Read more