27 Sep '11, 6am

China activates first gold-dispensing ATM on Sunday - but promptly shuts it off after a technical glitch

China activates first gold-dispensing ATM on Sunday - but promptly shuts it off after a technical glitch

China's first ATM dispensing gold bars and coins was switched on this weekend and then swiftly switched back off again due to a technical glitch. -- PHOTO: AFP BEIJING (CHINA DAILY/ASIA NEWS NETWORK) - China's first ATM dispensing gold bars and coins was switched on this weekend and then swiftly switched back off again. The equipment, which was activated in the capital's bustling Wangfujing shopping area on Sunday, was shut down the same day because it was not producing receipts. Li Weizhou, operations manager of Gongmei Gold Trading, which installed the ATM, said the machine will be running again in 'one or two days', but refused to name a specific date. Despite teething troubles, the company expects the machine to be a big hit and hopes to have 2,000 similar ATMs in place within the next two years. The majority will be in private clubs at banks and at landmark buildings ...

Full article: http://www.straitstimes.com/BreakingNews/ANN/Story/STISto...

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