In Shanghai, a machine that buys gold has become popular amid rising prices of the precious metal, and the Chinese are selling family jewelry for substantial profits.

In a shopping center in Shanghai, a machine that buys gold has attracted a crowd of people eager to take advantage of the dizzying rise in gold prices. The price of an ounce has exceeded $5,500, and Chinese people are selling family jewelry, such as coins and inherited rings, for a few thousand yuan. Wu, a seller, obtained 10,000 yuan for an inherited ring, highlighting that gold is seen as a safe haven in times of uncertainty.

Automations allow for transparent evaluation of gold, and customers receive money via fast bank transfer. Zhao, another seller, trusted the machine more than traditional brokers, appreciating the open process. China, the world's largest consumer of gold, continues to invest in this precious metal, and the machine has sparked considerable enthusiasm among sellers.