Full story, several links, photos and CNBC video of the ATM in action.
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Gold ATM Debuts in Abu Dhabi (Greenspan's Mess) >>
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Amid fears over the strength of nearly every major currency, Abu Dhabi’s top hotel has come up with a new type of ATM for their most risk-averse guests. The Emirates Palace is giving those staying there the chance to withdraw gold from the world first ever gold dispenser.
With gold prices at record highs amid fears that the EU’s rescue package will drive inflation higher, the ATM monitors the daily price of gold and offers small gold bars that weigh up to 10 grams with customized designs.
This could be just what those who stay in one of the world’s most expensive hotels will need as they watch the euro, yen and dollar jump around in volatile trade.
The hotel boasts 302 Grand Rooms, 40 splendid Khaleej & Khaleej Deluxe suites, four Royal Khaleej suites and sixteen three-bedroom Palace Suites divisible into a total of 48 one-bedroom individual suites.
