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New ATM Spits Out Gold Bars

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Gold has gained 26% this year, which puts the barbarous relic on track for its third double-digit gain of the last four years.

The miners have also run hard to the upper right hand corner of the chart. The GDX -- which includes holdings like Newmont Mining and AngloGold Ashanti -- is up 30% year-to-date.

What’s the outlook for gold in 2011?

Our own Przemsylaw Radomski tackled this question today in his latest missive. He guesses the precious metal’s high for 2011 is $1,800. As we write here in the midday, it’s at $1374.

“All the factors that have driven gold higher -- fear, uncertainties, the Fed’s printing press, lack of confidence in the dollar, gold as the ultimate currency, buying by newly wealthy Chinese families, sovereign troubles in the eurozone, central bank purchases, high unemployment in the US -- are still in place and I don’t see any of those factors changing significantly in the coming year,” Radomski writes.

Those looking for exposure to gold can buy the GLD or the GDX. Alternatively, if they live in Boca Raton, FL, they can head over to a new ATM that dispenses 24-carat gold bars and coins.

Shoppers reportedly insert cash or credit cards and use a computer touchscreen to choose the weight and style they want. The machine spits out the gold in a classy black box with a tamper-proof seal.

Reports Newser: "The German machine is primarily a novelty item, says its inventor, but could also be handy for investors who don’t want to deal with ordering gold over the Internet or at pawn shops."
POSITION:  No positions in stocks mentioned.