Vending Machine Dispenses Gold Bars, Coins

The machine at the Emirates Palace Hotel in Abu Dhabi, spits out gold bars, coins and hundreds of other gold items. A computer updates the international market price every 10 minutes. The dispenser takes only local cash.

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LYNN NEARY, host:

At the Emirates Palace Hotel in Abu Dhabi, tourists and investors have been crowding around a new vending machine. It dispenses gold. That's our last word in business today: gold to go.

The machine, which itself is coated in a layer of the precious metal, spits out gold bars, gold coins - more than 300 different gold items. A computer updates the international market price every 10 minutes. One inconvenience: The gold dispenser doesn't yet take credit cards, only local cash - which could be a hassle now that gold is at record prices of more than $1,200 an ounce.

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