Gold ATM: Withdraw Gold Bars & Coins From Gold ATM in USA (Gold To Go Machines): Finance Trading Times

Gold ATM: Withdraw Gold Bars & Coins From Gold ATM in USA (Gold To Go Machines)

Come November and US gold investors will have more convenience of buying Gold - right from an ATM or Automatic Teller Machines. The demand for Gold is increasing as an investment category, and the falling US Dollar is forcing the investors to park their hard earned money. Gold offers a good alternative to such investors as it has been a traditional and historic way to invest money. Gold ATM How will a Gold ATM work?
A gold ATM will work in exactly the same way as a normal bank ATM works. You swipe/insert your card, select the type/form of gold you want to buy, the moeny is deducted from your card and the gold is dispensed to you by the ATM machine (like you get cash from a normal bank ATM)
What form of Gold can be bought from Gold ATMs?
You can buy gold bars as well as coins from Gold ATM. It is said that there will be around 10 different gold products available through gold ATM.

When will the Gold ATM be available to public in USA?
Common people can buy gold from ATM from November 2010 onwards. The plan is to first installl the gold ATM's at the casinos in Las Vegas as well as in Florida. And then it will be installed in a phase wise manner all across the USA.

How much Gold can the Gold ATM hold at a time?
A typical gold ATM can hold gold worth USD 3 million.

how will the gold prices be determined at Gold ATM?
The gold prices are claimed to be updated in real time. Every 10 minutes the prices will be updated, hence the investors can expect to see a lot of price variation while buying gold.

Is there any way to trade at Gold ATM due to price movements?
As of now, it doesnt appear to be the case. The Gold ATM can only dispense gold, hence you have the option of only buying the gold. Selling back is not possible. But you never know, in near future you might as well see these gold ATM's becoming trading spots. However, this being only the initial phase, it will be a long time to go.

What Precautions should one take at Gold ATM?
Gold being a precious commodity will need some precautions.
Obviously, you will not find Gold ATM's in every corner of the street as you find Bank ATM's. There will be a limited availability in secure areas. However, you must make sure that while and after buying Gold, you need to take care of the Gold that is dispensed by the machine. Be cautious after the gold is withdrawn from the Gold ATM.
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