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Now, buying gold will be as easy as taking out money from an ATM machine. Yes, if you are planning to buy the yellow metal, you can do so without visiting physical jewellery stores. The Hyderabad-based Goldsikka Pvt Ltd has set up a gold ATM , which is claimed to be the country’s first real-time gold dispensing machine.

"We proudly announce that we have successfully launched Gold ATM and, through this achievement, we unleash the unstoppable journey to make Bharat Sone ki Chidiya phir se, and contribute to the mission of Bangaru Telangana," the firm said in a Twitter post.

 

Here is all you need to know about India's first gold ATM in Hyderabad

 

1) Gold ATM has a diverse set of uses, It is easy to use, available 24x7, and buy gold within your budget. 

2) Gold ATMs allow customers easier access so that everyone can use their debit card for credit card for making transactions.

3) Through these Gold ATMs, buyers can instantaneously purchase actual gold using any credit or debit card. 

4) The Gold ATM that dispenses Gold. The update in the price of gold is based on the live prices.

5) This Gold ATM supplies in denominations ranging from 0.5 gms to 100 gms.

How to use gold ATMS

Gold ATMs work like every other ATM. 

Customers can use their debit, credit cards to buy the yellow metal from the gold ATM

Insert your debit/credit card in gold ATM

Enter the PIN of your card

Enter the value of gold coins required

Gold coins will be dispensed from the machine

Gold rates today

Gold prices edged up today, helped by a slight pullback in the US dollar.  Spot gold was up 0.4% at $1,775.69 per ounce as of 0224 GMT. US gold futures rose 0.3% to $1,787.10. The dollar index was down 0.2%.

Earlier this month the gold price hit an all-time high of nearly 54,630 per 10 gms but the demand for gold will only grow. 

 

 

ABOUT THE AUTHOR

Sangeeta Ojha

Sangeeta is a Chief Content Producer at Livemint. Writes on personal finance, banking and real estate. She has over 12 years of experience as a journalist with television and digital media
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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