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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jon Koplik who wrote (12534)	5/14/2010 11:20:16 AM
From: Jon Koplik	Read Replies (2) of 33421

Bloomberg -- Abu Dhabi Opens Gold Bar Vending Machine in Emirates Palace ................. May 13, 2010, 6:37 AM EDT Abu Dhabi Opens Gold Bar Vending Machine in Emirates Palace By Camilla Hall May 13 (Bloomberg) -- Abu Dhabi’s Emirates Palace hotel opened a vending machine that dispenses gold bars, making the United Arab Emirates the first country outside Germany to install the machine. In addition to 1 gram, 5 gram and 10 gram bar of gold the machine also dispenses gold coins, MPW Finance said in an e- mailed statement. The machine was developed by TG Gold-Super- Markt, a brand of Ex Oriente Lux AG. Abu Dhabi, home to about 90 percent of the U.A.E.’s oil reserves, has weathered the global credit crunch better than the neighboring emirate Dubai as it pursued expansion at a slower pace. The Emirates Palace which often hosts celebrities and visiting government officials offered a $1 million Valentine’s Day package this year. Gold has strengthened 13 percent in 2010, following nine straight annual gains and reached all-time highs in euros, British pounds and yuan yesterday. --Editors: Claudia Maedler, Shaji Mathew. To contact the reporter on this story: Camilla Hall in Dubai at chall24@bloomberg.net To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net © 2010 Bloomberg L.P. All Rights Reserved.

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