Shanghai has become home to an innovative gold ATM capable of melting and evaluating gold jewelry on-site. The machine, developed by the Shenzhen-based Kinghood Group, allows users to receive the market value of their gold items within just 30 minutes without the need for traditional documentation or lengthy processing.
Located in the bustling Global Harbor Mall, the machine has quickly drawn crowds, with queues forming daily as residents and tourists alike line up to convert their gold assets into instant cash. The process begins with users inserting their ID and bank card information. Once verified, the machine accepts gold items weighing at least three grams with a minimum purity of 50%. The gold is then melted at temperatures above 1,000°C, allowing the machine to assess purity and mass before calculating the current market value based on real-time rates from the Shanghai Gold Exchange.
After deducting a standard service fee reported to be around 18 yuan per gram the ATM directly transfers the cash equivalent to the user’s bank account. This seamless process, completed in under half an hour, represents a major advancement in asset liquidity and user autonomy.
The timing of this innovation is particularly noteworthy, coinciding with record-high global gold prices. As investors seek safe havens and economic uncertainties drive up the value of precious metals, the Kinghood gold ATM provides a convenient outlet for those looking to liquidate assets or unlock value from old or unused jewelry.
Due to high demand, the machine is reportedly fully booked through May, and Kinghood Group has hinted at plans to deploy additional units in other cities across China.
