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Wednesday, June 17 01:46 pm
SkyNews

Vending machines that dispense bars of gold have been unveiled by a German company keen to sell the precious metal at airports across Europe. Skip related content
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TG-Gold-Super-Markt, based near Stuttgart, developed the idea after interest in gold investment increased.

The company's director, Thomas Geissler, believes that as the credit crunch continues to bite, more and more people will buy gold rather than investing using traditional methods.

Mr Geissler told Sky News Online: "The time has now come for people to think about investing in gold.

"Gold is a good thing to have in your pocket in these uncertain economic times."

The Gold To Go vending machine, unveiled at Frankfurt Airport, will offer passengers the opportunity to purchase small gold bars for around £32 per gram.

More expensive 10 gram bars can also be purchased as well as cheaper gold coins.

Machines will charge 20% less than local banks, although the company warns that prices will change throughout the day according to market fluctuations.

TG-Gold-Super-Markt will also install cameras to check for money laundering.

The company plans to put machines in at least 500 locations across Germany, including train stations and airports.

Mr Geissler said that he hopes the machines will soon be available in the UK.

Figures, obtained by the World Gold Council, have revealed that gold demand in the first quarter of 2009 was up 38% compared to the same period last year.

http://uk.news.yahoo.com/5/20090617/tod-vending-machines-that-dispense-bars-870a197.html