In a country obsessed with this precious metal, one of the main world markets where it is associated with religious cults and the ostentatious jewelry worn by women above all.
Inserting a credit or debit card and pressing a couple of buttons is all it takes to buy gold in India.
At market prices updated in real time, the first ATM sells this precious metal and was inaugurated this week in that country.
“Today I have bought gold from an ATM, it is a new experience for me. I have bought a gram of gold with this new technology”, swore a smiling client on Thursday in a video shared by the Goldsikka company, behind this vending machine inaugurated in the southern city of Hyderabad.
In a country obsessed with this precious metal, one of the main world markets where it is associated with religious cults and the ostentatious jewelry worn mainly by women but also some men, the company promises to “complete basic transactions to buy gold without having to go to any jewelry”, according to a press release.
Goldsikka promises access to between half a gram and one hundred grams of gold “at the lowest possible price”, purchases linked to the market price that is updated in real time: “customers can buy gold instantly using any credit or debit card.”
The company hopes, between a rise in the prices of this metal considered a safe value in times of crisis and which reaches almost 54,000 rupees per ten grams (regarding 655 dollars), to create a network of its gold-colored ATMs in the southern city and “especially in rural areas.”
According to the latest report from the World Gold Council, India is largely behind the increase in global sales of this precious metal between July and September, “due to a return to pre-coronavirus levels of economic activity.” ”.
It is traditional to make gold offerings to some gods, but also to give it away at births, birthdays or celebrations marked as the important Hindu festival of Diwali. It is also the star metal of the lavish weddings of the Asian country.
In fact, according to the World Gold Council, marriages generate approximately 50% of the annual demand for the precious metal in India.
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