03:12Visitors flocked to Shenzhen on Friday to check out the recently unveiled gold 'ATMs' that allow customers to buy and sell the precious metal.
Footage shows customers exploring the gold markets of Shuibei in Shenzhen, the epicentre of the Chinese gold craze. Staff are seen explaining how to use the 'vending machines' as visitors explore row upon row of bracelets, rings, and necklaces.
This comes after gold prices reportedly fell by two percent overnight following Donald Trump's victory in the US presidential elections.
"In the past few days, quite a few people have been asking about it, but there hasn't been a significant increase in buyers just because gold prices have dropped. It seems that people generally prefer to buy when prices are rising rather than when they are falling; that's probably how it is," one worker at the Shuibei Jewellery Park said.
"What will the future trend of gold prices be? I think no one can predict it. However, recent events will likely continue to cause fluctuations in gold prices," another worker added.
The machines follow local gold prices, accepting weights between three grams and one kilogram. Clients are reimbursed within 30 minutes of sending the gold for valuation.
Kinghood, a Shenzhen-based Fortune China 500 company, has been rolling out automated gold exchange machines throughout the country after the great success of their exposition at the 2024 China Gold Congress.
Shuibei, among the largest gold retail markets in the world, is a former fishing village in southern China that is home to over 10,000 jewellery businesses.
Locals flock to Shenzhen’s gold-dispensing ATMs as Trump win sends shockwaves through global markets
Visitors flocked to Shenzhen on Friday to check out the recently unveiled gold 'ATMs' that allow customers to buy and sell the precious metal.
Footage shows customers exploring the gold markets of Shuibei in Shenzhen, the epicentre of the Chinese gold craze. Staff are seen explaining how to use the 'vending machines' as visitors explore row upon row of bracelets, rings, and necklaces.
This comes after gold prices reportedly fell by two percent overnight following Donald Trump's victory in the US presidential elections.
"In the past few days, quite a few people have been asking about it, but there hasn't been a significant increase in buyers just because gold prices have dropped. It seems that people generally prefer to buy when prices are rising rather than when they are falling; that's probably how it is," one worker at the Shuibei Jewellery Park said.
"What will the future trend of gold prices be? I think no one can predict it. However, recent events will likely continue to cause fluctuations in gold prices," another worker added.
The machines follow local gold prices, accepting weights between three grams and one kilogram. Clients are reimbursed within 30 minutes of sending the gold for valuation.
Kinghood, a Shenzhen-based Fortune China 500 company, has been rolling out automated gold exchange machines throughout the country after the great success of their exposition at the 2024 China Gold Congress.
Shuibei, among the largest gold retail markets in the world, is a former fishing village in southern China that is home to over 10,000 jewellery businesses.
Visitors flocked to Shenzhen on Friday to check out the recently unveiled gold 'ATMs' that allow customers to buy and sell the precious metal.
Footage shows customers exploring the gold markets of Shuibei in Shenzhen, the epicentre of the Chinese gold craze. Staff are seen explaining how to use the 'vending machines' as visitors explore row upon row of bracelets, rings, and necklaces.
This comes after gold prices reportedly fell by two percent overnight following Donald Trump's victory in the US presidential elections.
"In the past few days, quite a few people have been asking about it, but there hasn't been a significant increase in buyers just because gold prices have dropped. It seems that people generally prefer to buy when prices are rising rather than when they are falling; that's probably how it is," one worker at the Shuibei Jewellery Park said.
"What will the future trend of gold prices be? I think no one can predict it. However, recent events will likely continue to cause fluctuations in gold prices," another worker added.
The machines follow local gold prices, accepting weights between three grams and one kilogram. Clients are reimbursed within 30 minutes of sending the gold for valuation.
Kinghood, a Shenzhen-based Fortune China 500 company, has been rolling out automated gold exchange machines throughout the country after the great success of their exposition at the 2024 China Gold Congress.
Shuibei, among the largest gold retail markets in the world, is a former fishing village in southern China that is home to over 10,000 jewellery businesses.