In an unprecedented convergence of ancient tradition and technological innovation, China has unveiled the first cash machine capable of melting gold and automatically converting it into money. The machine, currently operating in Shanghai, was developed by the Kinghood group and is already attracting the attention of investors, the curious and small gold holders.
This equipment, described by many as a “gold cash machine”, accepts pieces of at least 3 grams and purity of 50% or higher. Once the gold is inserted, the machine raises the temperature to around 1,200 °C to melt the metal, analyses its composition by laser spectroscopy and, based on the real-time price on the Shanghai Gold Exchange, transfers the corresponding amount to the bank account specified. The whole process takes approximately 30 minutes, on payment of a fee of 18 yuan per gram, the equivalent of about 2.30 euros.
At a time when the price of gold is reaching record highs, this solution emerges as a modern response to the demand for immediate liquidity, especially among those who prefer to avoid bureaucratic processes or intermediaries in valuing gold.
The Kinghood Group has ambitious plans: to expand to more than 40 locations in Shanghai and then extend its presence to other major cities such as Beijing, Shenzhen and Hong Kong.
The technology has the potential to revolutionise things outside China as well. In countries such as Mozambique, where gold forms part of the family and artisanal heritage of many communities, a similar system could facilitate direct access to the value of the precious metal, promoting financial inclusion and strengthening the local economy.
