In India gold ATMs will be less popular as against across the world

In India mostly people prefer to invest in gold. In the recent years the gold prices has increased which has made it most costly and popular metal.

There are various options of investment in gold and individual must be able to choose the right option. Recently, there was news that in India the gold can be purchased through ATMs (Automated Teller Machines). But there are various issues related to having ATMs dispensing gold.

ATMs have become a convenient route for individuals for their banking requirements and are having become familiar with the mode of operation of the instrument. At the ATM dispensing gold will mean instead of cash these machines will dispense gold. In this case the gold will come out from the machine in the form of coins or bars. However, such machines are already operational in few places across the world. If individual get chance to see such machine can actually see the kind of use that is possible.

The individuals should check the choices that are actually offered by the ATM. Usually there are lot of options that are available so that there can be purchases in different denominations as per the requirement of the individual. The machine can actually dispense coins as small as 1 gm and then go up to bars that are about a 1kg in weight. Here individuals get the option to choose the exact weight that they actually want to buy.

The prices available for transactions are in fact updated and the latest price that will be available in the market. The machine updates the price of gold every 10 minutes so when an individual goes to transact then there is a link to the actual existing prices and this is actually a good thing for the individual.

The location of these machines has to be dome in different manner. These specialized machines you can not find at street corner. They will be extremely few in numbers and would be installed at high-end places. Therefore, an investor who wants to buy gold through a gold ATM, they would have to travel to the place specifically for the purchase.

The individual has to get familiar with nature of the machine and the manner in which this will actually be used. The gold dispensing ATM machine will only sell the gold to the individual and will not buy the gold back from the investor. Therefore, the individual who want to convert the gold into cash will have to do it separately.

The other important thing to be considered is the gold price at which it will be dispensed by the machine. The difference in terms of the price charged as compared to the prevailing market price has to be seen and understood very well.

However, there is time that presence of such machines become a reality in India it is important for the individuals should be aware of the manner of operation of these so that it is beneficial for them.