Michael’s Gold Machine Picture

While traveling home from India last week, I spent some time in Dubai. After seeing the strong demand amongst consumers for gold in India, I thought I had seen it all. That’s until I got to Dubai and toured the Dubai City of Gold—basically a giant multi-story flea market where a consumer can buy 24-carat gold in any form. (If you can imagine it, they can make it in gold.) Then I came across what I have read much about, but never actually seen—the gold vending machine! Below you’ll find a picture of me next to one such machine. These machines, which are a common find in hotel lobbies and malls, dispense gold bars, gold chains, and gold coins, just like other vending machines dispense sodas or a chocolate bars here in the U.S. Why all these vending machines dispensing gold? I mean, who would buy gold from a machine? I know I wouldn’t. I talked to some locals and did some research...