Mumbai, April 22: A video going viral on social media shows a woman depositing gold into a "Smart Gold ATM" installed at a mall in Shanghai, China, to sell her jewellery. The viral clip has left netizens curious, with many wondering what a gold ATM is and how to use it. According to reports, a mall in Shanghai has introduced a "Gold ATM" that allows users to sell their gold jewellery and receive슬롯 머신 사이트 추천money into their bank accounts instantly, within 30 minutes. It is also reported that the smart gold atm does not require any paperwork to sell gold.

During one of the demonstrations showing how to sell jewellery in a Gold ATM, a 40-gram gold necklace reportedly fetched 785 yuan per gram (approximately INR 9,200). The sale of the gold necklace to the smart gold ATM resulted in a payout of over 36,000 yuan (approximately INR 4.2 lakh) in just under 30 minutes. An X user who shared the video on the microblogging site said that the "Gold ATM" in Shanghai melts the gold (yellow metal) before transferring the amount corresponding to the jewellery's weight to the user's bank account.슬롯 머신 사이트 추천Gold Rate To Stay at INR 1 Lakh Level? Experts Say Gold May See a Correction of 10%, but Bullish Outlook Remains.

What Is Gold ATM? How To Use Smart Gold ATM?

In simple terms, a Gold ATM can be understood as an ATM that accepts gold from people looking to sell their yellow metal and, in return, transfers the equivalent amount of money to their bank accounts. The "Smart Gold ATM" installed in Shanghai's mall has been developed by China's Kinghood Group and is designed to analyse, weigh and melt gold items. The Gold ATM also determines the purity of the gold deposited in the "Smart Gold ATM" before transferring the equivalent amount directly to the seller's bank account.

Watch 'Gold ATM' Video Below To Know How to Use 'Smart Gold ATM' to Sell Jewellery

According to reports, the "Smart Gold ATM" installed in a mall in Shanghai accepts gold items weighing over three grams and with a purity level of at least 50 per cent. The Gold ATM has become an instant hit among the public in Shanghai, with local residents queuing up to sell their gold amid the rising prices of the yellow metal. According to Chinatimes.com, the Gold ATM, which can be used via appointment, has all the slots booked until May.슬롯 머신 사이트 추천Ferrari and Porsche at Indo-China Border in Bumla Pass in Front of Chinese Soldiers; Videos and Pics Go Viral.

What Are Experts Saying About 'Smart Gold ATM'?

While the high-tech twist to the gold trade has become popular, experts say the concept reflects a larger goal and a broader trend, showing that the amount of gold people are holding is growing in value. Xu Weixin, a member of the Shanghai Gold Association, said that the introduction of "Smart Gold ATMS" has primarily served a recycling function from a business perspective, where there is a stronger desire to cash out gold held by people.

(The above story first appeared on LatestLY on Apr 22, 2025 12:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).