Finance
Gold Vending Machines Surge in Popularity as Traditional Investments Falter
Clear Facts
- Gold bar vending machines have been installed in South Korea, with sales reaching $19 million in nine months.
- These machines offer gold bars in five sizes, with prices changing daily to match international gold value.
- The popularity of gold bars is attributed to ongoing global inflation and the recent collapse of Silicon Valley Bank.
Consumers in South Korea can now access gold bars in vending machines, as demand for the commodity rises amid ongoing global inflation.
Sales of gold bars at GS Retail convenience stores in South Korea reached $19 million over a nine-month span that ended in May, United Press International reported Friday, citing the retailer.
Gold bar dispensing vending machines were added at five convenience stores last September with five size offerings ranging from .13 ounces to 1.3 ounces, UPI reported. Prices change daily to match the international value of gold, according to the outlet.
Outsmart Market Instability: Turn to Gold Now
As traditional investments lose their luster, discover the enduring value of gold. Learn how you can safeguard your future with our FREE GUIDE on an IRS-approved gold investment strategy.
The smallest size at .13 ounces ranks highest in popularity among buyers, with the current price sitting at around $225, a GS retail representative told UPI News Korea.
“People in their 20s and 30s appear to be the main buyers, purchasing physical gold as an investment vehicle, especially in times such as these, when its value is continuing to rise,” he said.
Gold’s recent rise in popularity stems from persistent global inflation and follows the Silicon Valley Bank (SVB) collapse earlier this year, UPI noted. SVB’s downfall marked the second-biggest bank failure in U. S. history, Daily Caller co-founder and former Fox host Tucker Carlson noted in March.
Experts suggest gold’s value may continue to rise as inflation remains steady, according to CBS News.
Clear Thoughts (op-ed)
The rise of gold bar vending machines in South Korea is a clear indication of the public’s growing concern over global inflation. It’s no surprise that people are flocking to invest in a stable commodity like gold amid such economic uncertainty.
The recent collapse of Silicon Valley Bank only adds to the urgency of finding a reliable investment vehicle. As more individuals, particularly younger generations, seek to protect their wealth, these gold bar vending machines offer a convenient and accessible solution.
This phenomenon should serve as a wake-up call for our leaders. Instead of focusing on short-term, partisan politics, it’s crucial that they address the root causes of inflation and work towards stabilizing our economy.
If we continue down this path of fiscal irresponsibility, we may soon find ourselves in a world where gold bar vending machines aren’t just a novelty, but a necessity.
Secure Your Future: Protect Your Savings from Economic Uncertainty
In uncertain times, protect your savings. Discover an IRS loophole to secure your IRA/401k. Get your FREE GUIDE now!
Let us know what you think, please share your thoughts in the comments below.
Jeremy
January 25, 2024 at 9:32 pm
If they put those in any of the big cities in this country, they would quickly be emptied out by the criminals that are released without bail or never charged at all.