Originally designed as a marketing device for an online gold trading business, the machines have become such a success that their inventor plans to build a global network, installing them everywhere from fitness centres to cruise ships. The German businessman behind the machines, Thomas Geissler, said their success was the result of a rush on gold, the price of which has risen from $US250 an ounce in 1999 to about $US1330 an ounce.
Since the first machine was installed in May, in the lobby of Dubai’s Burj Khalifa hotel, 20 gold-to-go machines have been installed across Europe. Mr Geissler is also meeting representatives of Harrods department store in London to discuss launching the first British machine.
Mr Geissler said most customers of the vending machines were women, who tended to buy in smaller amounts.
The machines are monitored from Geissler’s company headquarters in Reutlingen, Germany, and the price of the gold is updated every 10 minutes, according to the market price.


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