Gold ATM draws large crowd in Shanghai amid surging prices

Amid surging gold prices, Shanghai has introduced its first “gold recycling ATM“, drawing significant public interest, particularly from older residents seeking to cash in on the jewelry they’ve held for generations. Located in Shanghai’s Global Harbor shopping mall, the new machine saw long queues of customers, with appointments booked through the upcoming May holiday. Social media posts circulating online showed that the machine provides a fast, transparent process: users deposit their gold items, which are then weighed, melted and assayed. For instance, a 40-gram gold necklace was appraised at 785 yuan ($108) per gram, resulting in a payout of over...