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9/28/11 (AEIN) China will soon open its first gold vending machine, located in the capitol city of Beijing. The unit will sell customers either bars or coins made of the precious metal, Chinese state radio reported early Wednesday.
The operators of the new vending machine plan to make it available to the public by the beginning of next week. With the metal selling at around $1,650 (approximately 10,500 yuan) per ounce, obtaining a small piece of gold proves quite costly.
China is one of the first countries to establish a gold vending machine. The United Arab Emirates, the United States and some European countries also have them. The South Florida Sun-Sentinel reported in late 2010 that a gold vending machine had appeared in Boca Raton.