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Korean convenience stores selling gold bars in vending machines

Written by on June 19, 2023

A customer purchases a gold bar using a vending machine at a convenience store in Seoul. Photo courtesy of GS Retail

The popularity of gold bars is surging at convenience stores around South Korea as the value appreciates amid strong inflationary pressure across the globe.

GS Retail confirmed Friday that sales of gold bars at its convenience stores totaled $19 million in the past nine months ending in May.

The gold bars, dispensed through vending machines, were introduced last September at five of its stores. The machines offer five sizes, weighing 0.13 ounces to 1.3 ounces.

Prices fluctuate daily in keeping with the international valuation for gold, according to GS Retail, which operates more than 10,000 convenience stores all over South Korea.

Source : UPI News

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