China installs gold ATM that verifies purity, credits amount in bank account in 30 minutes

China has installed a gold ATM in Shanghai that melts the metal, evaluates its purity and weight, and transfers the value to a bank account within 30 minutes. It's installed at a mall in Shanghai and is designed to accept gold items of over three grams with at least 50% purity. Users need to book appointment to use the ATM.