75 gold atms to be installed in india

Hey Gold Bugs

There are 2000 Gold Bullion ATMs being installed in China over the next 12 months, now India is joining them with plans to install 75 Gold Bullion ATMs in addition to the thousands of gold bullion and gold jewelry/dealers that have sold gold to Indian consumers for hundreds of years!

We can expect an exciting time for gold and gold stocks in 2013.

Cheers Nectar
IDC.AX

http://www.bullionstreet.com/news/indias-first-gold-atm-opens-in-mumbai/212

Monday, October 24th 11:47 AM IST
India's first gold ATM opens in Mumbai


India's first gold ATM was launched in Mumbai, country's commercial capital, by the Gitanjali Group.
Gold ATM

MUMBAI(BullionStreet): India's first gold ATM was launched in Mumbai, country's commercial capital, by the Gitanjali Group.

The ATM, which will disperse gold, diamonds and also medallions, coins and jewellery, was inaugurated at Phoenix High Street in Lower Parel in Mumbai.

Designed like an ATM, the machine will dispense gold and silver bars, coins, pendants with religious motifs as well as a range of diamond studded jewellery.

Gitanjali Export Corporation chief executive Sanjeev Agarwal said, it is a kind of vending machine for both gold and diamond jewellery designed like an ATM. The machine will dispense gold and silver bars, coins, pendants with religious motifs and a range of diamond studded jewellery, making it the first of its kind in the country.

This vending machine will give the consumer a mix of up to 36 options in different sizes and prices ranging from Rs 1,000-30,000 from across these categories, which will include coins in varying grammages.

This new retailing format will be ideally suited for last minute purchases on auspicious occasions and for gifting, providing instant gratification to the purchaser.

The group plans to set up 75 such gold and diamond ATMs at premium malls, airports