Shanghai’s inaugural Gold ATM, unveiled by the Shenzhen-based Kinghood Group at the Global Harbour mall, is drawing large crowds as residents exchange old jewellery for cash amid the surging gold prices of 2025. This cutting-edge machine processes gold within 30 minutes and offers a transparent alternative to conventional jewellers.
The ATM accepts gold items weighing over 3 grams with a minimum purity of 50%, including jewellery, coins, or bullions. It heats the gold to 1,200°C, determines the purity and weight using sophisticated sensors, and calculates payouts based on the live Shanghai Gold Exchange rates, deducting a modest fee.
🔴 Çin, Şanghay'da bir altın ATM'si
Altını eritiyor ve ağırlığına karşılık gelen miktarı banka hesabınıza aktarıyor. pic.twitter.com/56sgALt7q5
— Conflict (@ConflictTR) April 19, 2025In a live demonstration, a 40-gram necklace earned 785 yuan per gram, totalling over 36,000 yuan (approximately £4,000). The process requires no paperwork, and the ATM directly transfers funds to users’ bank accounts.
Demand for the service is exceptionally high, with all appointments booked until May 2025. Staff reports indicate that about 70% of the users are women between 50 and 70. A viral video from Turkish influencer Tansu Yegen has brought global attention, leading tech analyst Advait Arora to declare it a “shift in wealth management.” Social media reactions are mixed, with some users expressing admiration and others advocating for similar machines in India and the U.S.
Read: Gold Hits Record High as Dollar Weakens Amid Trump Tariff Tensions, Fed Feud
Xu Weixin from the Shanghai Gold Association has observed that “rising gold prices fuel the public’s desire to cash out.” With a network that encompasses nearly 100 Chinese cities, Kinghood plans to introduce a second unit in Shanghai. Although there are concerns about fees (18 yuan per gram) and the verification of purity, the ATM’s efficiency is disrupting traditional gold markets.
