India’s First AI-Powered Gold ATM Lets People Turn Old Gold into Cash in Just 30 Minutes

Balasahana Suresh
In a major fintech innovation launched in Hyderabad, Telangana, India’s first AI-powered gold ATM has been installed — offering a fast and convenient way for people to convert their old gold into money within about 30 minutes.

The machine, introduced by Goldsikka, a financial technology company, uses advanced artificial intelligence and automated processes to evaluate gold items, determine their purity and value, and credit the equivalent amount directly into the seller’s bank account. This eliminates the need for traditional visits to jewellers for appraisal, lengthy negotiations or paperwork.

Here’s how it works:

  • You bring your old gold jewellery or items to the gold ATM.
  • The machine performs an AI-based purity and weight check.
  • It then calculates the current market value and credits the cash to your bank account — usually within about 30 minutes.
This innovation aims to modernize and simplify gold transactions in india — a country where gold plays a significant cultural and economic role. Traditionally, selling old gold has involved visits to local jewellers or pawnshops, where valuations and settlements can take longer and involve complex negotiation. The gold ATM speeds up this process and uses technology to enhance transparency and ease for customers.

Although india has previously seen other types of gold ATMs that dispensed gold coins and jewellery for purchase, such as the earlier Goldsikka machines in hyderabad that sold gold products based on live market pricing, this new version focuses on recycling old gold for instant cash — a first of its kind in the country.

Financial observers say that this type of automated gold settlement could provide a valuable liquidity option for people needing emergency cash and could contribute to broader wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital financial services growth across India.

 

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