Abu Dhabi’s gold ATM machine a sign of more opulence to come | beyondbrics | FT.com

Abu Dhabi’s Emirates Palace is a case study of the opulence and glitz that has come to characterize cities in the oil-rich Arab Gulf.

So it should come as little surprise that the $3bn government-owned hotel was the chosen destination for the region’s latest example of extravagance - an ATM machine that dispenses gold in exchange for cash based on the latest prices. The Gold to Go machine, which is covered in 24-carat gold, was unveiled on Wednesday by Thomas Geissler, chief executive of Ex Oriente Lux AG.

Certainly it is no bad spot, as the Emirates Palace is a magnet for executives from around the globe seeking to tap into Abu Dhabi’s wealth, powerful sheikhs and rich tourists drawn to a hotel that offers a “one million dollar tailor made suite holiday.”