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Set up in the south Indian city of Hyderabad, the gold ATM is the brainchild of GoldSikka and dispenses gold coins that weigh anywhere between 0.5 and 100 grams
The unprecedented move was announced on Monday by the country's central bank, the Reserve Bank of Zimbabwe, to boost confidence in the local currency
By contrast, bitcoin has lost over 13% and ether is down 20%
The Karnataka government is planning to open jewellery retail outlets and promote the yellow metal with 'Brand Karnataka' image. The government is also planning to produce and sell gold coins with state emblem 'Gandaberunda' (mythical two-headed bird) embedded in them, and aiming to partner with private jewellers. "Gold bars will also be sold in the retail outlets. The state government is planning to produce gold jewellery on the lines of Mysore Silks and Mysore Sandalwood Soaps which have huge market and reputation among customers," Minister for Mines & Geology Murugesh R Nirani. He was speaking to reporters after a meeting with Jewellers Association and jewellery designers here. "This landmark initiative will help government generate more revenue and employment opportunities. Since gold is one of the most popular investment choices of the people, the government's venture is expected to achieve great success," Nirani said. The success of Mysore Silks promoted by ...
While delivering gold coins, the machine delivers you a certificate of purity and genuineness