RESPONSE: China unveils its first gold vending machine

Innovation has yet again proven to surprise us! From Chelsia’s blog, she discusses the first gold vending machine introduced on the popular Wangfujing Street of China. Due to gold prices constant skyrocketing, there is a demand for this commodity and creates a solid investment to consumers.  To accommodate for this demand, gold vending machines will convenient consumers’ accessibility to purchasing with acceptance to direct cash and bankcard.  After reading the article, I became concerned about whether this invention will change consumer’s value on gold.  Since typical vending machines dispense snacks and miscellaneous items and usually socially overlooked upon and now, by introducing gold to be dispensed from these machines, the value of gold seems to be in question.  My question is whether will this invention have positive or negative effects on the demand for gold.

 

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