China's Gold ATM

Do you know that in China's Wangfujing Street shopping district in Beijing, shopers can insert cash or use a bank card to withdraw gold bars or coins of various weights based on market prices.

Gold vending machines already exist in Britain, the United States, the Middle East and Europe but its the first one in China.

China plans to install an unspecified number of machines in secure locations such as gold shops and upmarket private clubs.

Gold is often used as a hedge against inflation and the machines could prove popular among Chinese consumers looking for a convenient way to safeguard their cash amid rising prices.