Has anyone noticed the number of shops that have opened for the purpose of buying and selling gold?
A friend of the site has told us that there is now a trader in The Glades shopping center in Bromley, Kent, UK who has set up a stall and is offering to buy anything golden, broken jewelry, scrap gold etc.
Here in New Zealand there are a number of shops in and around Auckland that are also offering a similar service.
And then there is the latest craze of gold vending machines, excuse me, yip gold vending machines such as the one pictured above.
In today's market, gold bullion can be bought from dealers, jewelers, auctions, private investors, and now from gold vending machines.
German gold bullion dealer TG-Gold-Super-Market says it plans to install as many as 500 gold vending machines throughout Germany, Austria, and Switzerland this year.
The Stuttgart-based company aims to introduce the gold vending machines in train stations, airports, shopping malls, and anywhere else retail interest for gold bullion is likely.
The new gold vending machines will sell small 1, 5, and 10-gram gold bars as well as South African Gold Kuggarand Coins. TG-Gold-Super-Market says each vending machine will hold up to 1,500 pieces of gold bullion.
Prices for bullion from the vending machines will be about 30% higher than market prices and will be updated every 10 minutes to keep pace with gold spot prices.
Interest in gold has risen during the financial crisis, particularly in Germany
So, does this mean that the public are becoming more aware of gold and its value, not really, however, the entrepreneurial spirit is alive and well and positioning itself in front of the public via ever more creative ideas. Anyway would you trust gold to be gold if purchased from a machine and would you pay a 30% premium for the privilege?
Wherever you live please have a look round and let us know if any of these trends are gaining prominence in your area.
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