Abu Dhabi’s top hotel on Wednesday unveiled the UAE’s first ATM-type machine that gives those staying there the chance to withdraw 24-karat gold bars and coins.

The ATM-style kiosk cash-for-gold dispensing machine is the brainchild of CEO of Ex Oriente Lux Thomas Giessler and the first international foray for the German entrepreneur’s ’Gold to Go’ brand, which was first tested in his native country in 2009.

Geissler, in remarks at the inauguration ceremony, said he chose Emirates Palace Hotel because it had become a brand that is recognized worldwide.

The cash-for-gold machine monitors the daily price of gold, dispenses small gold bars and coins that weigh up to 10 grams with customized designs for cash along with a refund guarantee.

 

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