Gold Dispensing ATM Launched In The Gulf

Abu Dhabi's top hotel has upped the stakes in the contest to have the most glitz in the Gulf by installing an ATM that dispenses gold bars.

The machine at the Emirates Palace monitors the daily price of gold and offers small bars that weight up to 10 grams or coins with customised designs.

Thomas Giessler, the German entrepreneur behind the idea, chose Abu Dhabi because of its high-rolling atmosphere.

Gold To Go, Mr Geissler hopes, will tie in nicely with the region's traditional ties in gold commerce.

The launch was timed well, coming on the day gold hit a record high of more than $1,245 (£838) an ounce.