Abu Dhabi's Emirates Palace Hotel has installed a gold vending machine for guests.
German company Ex Oriente Lux AG designed the machine, which enables people to purchase gold bars and coins in vending machine-style format.
'In addition to one-gram, five-gram and ten-gram bars of gold, the machine also dispenses gold coins,' a company statement said.
Gold rates are constantly updated inside the machine, which is gold-plated, courtesy of a built-in computer connected to a dealer which sells gold online.
'This eliminates the risk premiums usually associated with precious metal trading,' the German company said.
Hans Olbertz, general manager at the Emirates Palace Hotel, said they wanted the hotel to be the first in the world to offer guests what he called 'this golden service.'
The Emirates Palace is often used by visiting foreign dignitaries, and its top floor is reserved for the rulers of the UAE federation's seven emirates, each of whom has his own suite.
