China installs gold ATM in Shanghai, offers instant cash for precious metal

In a pioneering move blending technology with finance, China has introduced a gold ATM in Shanghai that allows individuals to exchange their gold for cash in just 30 minutes—without any paperwork. Operated by China's Kinghood Group, the ATM analyzes, weighs, and evaluates the purity of gold before transferring the corresponding amount directly to the user’s bank account. 

A gold ATM in Shanghai, China

It melts the gold and transfers the amount corresponding to its weight to your bank account.

pic.twitter.com/hFu3AjqEo2

— Tansu Yegen (@TansuYegen)

A gold ATM in Shanghai, China

It melts the gold and transfers the amount corresponding to its weight to your bank account.

pic.twitter.com/hFu3AjqEo2

— Tansu Yegen (@TansuYegen) April 19, 2025

">April 19, 2025

Installed at a mall in Shanghai, the machine accepts gold items weighing over three grams with a minimum purity of 50 percent. Once deposited, the gold is melted, tested, and valued on-site, with the entire process completed within half an hour. Users must book appointments in advance, and reports suggest that slots are fully booked until May, reflecting strong public interest.

Also Read: Bengaluru: Gold ornaments worth over ₹2.8 crore missing as jewellery store employee flees

The ATM is currently being used by individuals looking to monetize inherited or generational gold. During a demonstration, a 40-gram necklace fetched over 36,000 yuan (approximately Rs 4.2 lakh), based on a rate of 785 yuan per gram.

The initiative serves a dual purpose—offering convenience to the public while also aiding in gold recycling. With global gold prices on the rise, many individuals are now looking to cash in on their holdings. The demand for such services is fueled by increased gold purchasing by central banks and institutional investors, reflecting the broader market trend of growing interest in precious metals.