As the world gold price surged to a record 5,600 USD an ounce on 29/1, many Chinese citizens gathered around an automated jewelry purchasing machine installed by Kinghood Group at a shopping center in Shanghai.
"I never thought gold prices would rise so sharply. I want to sell the panda gold coins I bought when my daughter was born in 2002. I once came here to sell a ring my father left me for 10,000 CNY (1,400 USD); it was only worth 1,000 CNY when my mother bought it decades ago," said Ms. Wu, 54.
The machine's advertisement board displayed, "gold prices are stable at record highs, this is a good time to sell". A nearby screen showed prices on the Shanghai Gold Exchange and played a video of a robot arm weighing scrap gold and using equipment to test its purity.
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Customers queue to sell gold to an automated buying machine in Shanghai, Trung Quoc on 29/1. Photo: AFP |
Many customers waited over an hour for their turn. A staff member was present to supervise the queue, assisting people in placing necklaces, rings, and coins into the machine's receiving slot.
Ms. Wu shared that her mother was particularly excited about the soaring gold prices, viewing the machine as an opportunity to supplement her modest pension. "Everyone suddenly started talking about gold, and that made my mother feel excited," she said.
Ms. Zhao, adorned with an intricately carved necklace and sparkling bracelets, brought her grandfather's ring to sell to the automated machine. The ring's face featured the word "luck" and images of traditional gold bars.
Ms. Zhao mentioned her grandfather bought the ring between the 1950s and 1980s, and her mother passed it down this year. "If the price is right, I will sell it," she stated.
Minutes after placing the ring in the tray, the machine announced its value at approximately 12,000 CNY (1,700 USD). Ms. Zhao, satisfied, pressed the agreement button on the screen, then entered her name, national identification number, and bank account information while the ring was melted. The staff informed her that she would receive the money from the sale by the end of the day.
"Other places test gold by lightly burning it. Here, they test it directly, openly, and transparently. I trust this machine more than traditional stores," Ms. Zhao commented.
Beyond customers, the machine also attracted the attention of many passersby. "Oh my god," one person exclaimed upon seeing the machine purchase old jewelry for 75,000 CNY (10,500 USD). Others gathered around an elderly couple when the machine announced their finger-sized gold bar was worth up to 122,000 CNY (17,200 USD).
Nguyen Tien (According to AFP, AP, Reuters)
