Beijing, August 14: A video circulating on social media has left netizens stunned and skeptical. The video clip shows people lining up at what appears to be a high-tech gold ATM in a Shanghai shopping mall. The machine is seen melting gold, checking its purity, and transferring cash directly into users’ bank accounts, all within 30 minutes and with no paperwork required.

The video quickly went viral, leaving many users questioned whether such a machine really exists, or if the China Gold ATM video was just clever marketing or a publicity stunt. With gold prices at record highs, the idea of an ATM that accepts old jewellery and pays out instantly seemed too futuristic to be true. Scroll down to check the truth behind the viral video that claims an ATM in Shanghai, China, melts gold and transfers money into the seller's bank account. Cloudburst Caught on Camera in Uttarakhand? AI-Generated Video Circulated With Fake Claim, Reveals Fact Check.

China Gold ATM Video Leaves Netizens Puzzled

Is There Really a Gold ATM in Shanghai Mall in China That Melts Jewellery and Transfers Money in Bank Account?

So, is there really a gold ATM in China that melts jewellery and transfers money into the bank accounts? The answer to this question is yes, the gold ATM is real. Located in one of Shanghai’s busiest malls, this innovative machine has been developed by China’s Kinghood Group, a Shenzhen-based company. It is designed to accept gold items weighing over 3 grams with at least 50% purity.

How Does China Gold ATM Works?

The machine melts the gold at 1,200°C, performs a real-time purity and weight check, and calculates the value based on live rates from the Shanghai Gold Exchange. The money is then transferred directly to the seller’s bank account, usually within 30 minutes. Has India Introduced the ‘QuantumAl’ Investment Platform? PIB Fact Check Reveals Truth Behind Viral Facebook Ad.

Importantly, the process requires no paperwork or ID verification, making it a seamless and modern alternative to traditional jewellery shops or pawn dealers.

Fact check

Fact Check: Is There Really a Gold ATM in Shanghai Mall in China That Melts Jewellery and Transfers Money in Bank Account? Old Video Going Viral Turns Out To Be True
Claim :

Gold ATM installed in China's Shanghai melts gold and transfers value to bank account.

Conclusion :

The claim is true. Gold ATM has been developed by China’s Kinghood Group.

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(The above story first appeared on LatestLY on Aug 14, 2025 06:05 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).