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 also be u
9 comments
Read more

Communist party launches 'China Operating System' to oust iOS and Android

hina officials have launched a national operating system in an attempt to take back control of the country’s computer market from American companies such as Google and Apple. The software has been in development for more than a year, but has been released at a crucial time with revelations about US-led surveillance sparking fears over the integrity of American-designed software. Known simply as the China Operating System, or COS, the software can run on PCs, tablets and smartphones and has been based on the open-source Linux operating system. Chinese media say that the OS has been created “entirely independently” in order to provide better localization for a range of features – from Chinese-language keyboards, to integration with the country’s banks. At the launch of the event, one of the developers involved with the project reportedly criticized Western software , saying that Apple’s iOS was too closed, that Google’s Android OS suffered from fragmentation (ie, too many versi
Post a Comment
Read more