Apple to buy 30% of world’s gold output; putting gold vaults in Apple Stores

This article belongs in the "Global Meltdown" forum with quotes like this: "Russia and China ‘Furiously’ Buying Up Gold As “a Global Currency Crisis – Albeit Unstated – is Underway”

But here is part that got my attention:

Apple is preparing to take some pages out of the traditional jewelry store playbook. For the upcoming 18-karat gold Apple Watch Edition, Apple is planning several new features for its retail stores to support the device. As we reported several months ago, Apple is planning on allowing customers to actually try on the watches and test out different band styles inside of stores. With the high-expected price tag of the gold watch models, Apple will also step up its security features for stores…

Apple will outfit its official retail stores with safes to house the more expensive, gold “Edition” variants of the upcoming Apple Watch, according to sources. The safes will likely be used to carry both to-be-sold inventory as well as to store demo units from the show floor overnight. The custom-designed safes will be outfitted with Apple Watch MagSafe chargers in order to keep the demo units charged up and ready to go for the next day of business. Apple has already begun installing the safes in some stores ahead of the Apple Watch’s expected release in April…

investmentwatchblog.com... pple-stores/

First China. Then Russia. Now Apple’s out to hoover up gold.

there has always been one golden rule: he who has the gold makes the rules.

Put China at the top of the next generation of rule makers, then.

China has been quietly stockpiling gold for years now. In fact, it is stockpiling so much gold that many have speculated that it may be building a gold-backed yuan currency that would make the Dollar pale in comparison on the global market.

But reportedly no one is buying gold at a faster pace than Russia.

...and now, Apple.

If Apple makes 1 million Apple Watch Edition units every month,
that equals 24 million troy ounces of gold used per year,
or roughly 746 metric tons!

The fkn greed the world over, the non stop consumerism, the division and balloon ideas people have of themselves..

Sick and tired of it. It's a god damn watch, our phones tell us time.

All in the name of profit and money - greed.

Farming human minds has never been easier then the age of consumerism...

a reply to: wasaka
I'll buy the gold painted Android copy for £50 instead.

a reply to: wasaka

How would they honestly expect to have people buying up these expensive gold iWatches with the economy as it is?

Jewelry is somewhat cool because (most) pieces are unique and have their own character to them. They can go ahead and change up the band styles, etc. but it will still just be a golden iWatch - still a status symbol, sure but anyone with a golden iWatch on will also probably be targeted by the less affluent like "Ohhh, look at this rich guy and his gold iWatch. Just another rich bastard!"

Producing 1 million units a month? They better hope there are plenty of people ready to buy these things up. I think Apple does almost everything right, so I wouldn't be surprised if this were a total success. I would also not be surprised if it turned out to be a bust.

a reply to: wasaka

Where did you get the 1 million per month figure. I don't see more than a few hundred to a few thousand of the gold versions being produced per year.

a reply to: wasaka

Got a legitimate source on that or is it bogus like 90% of what comes thru this subforum?

a reply to: wasaka

Not all of the watches will be gold - I don't think they will sell 1 million gold watches per month. Still, it is interesting.

I'm not believing enough people will be spending Rolex money on smart watches to support 1 million per month.

Something is wrong here.

a reply to: Zarniwoop Toni must be dancing in his gumboots. Let's get this dredge happening boys!

a reply to: wasaka

There is a rather large difference between a 14k+ gold item then anything less.
Especially 18k. I highly doubt they will make many 18k gold watches, not a lot of people would be able to afford it.

Thing is, watches are something now days for either fashion, show your wealth, or a legitimate time piece. I bought an Omega 5 years ago, dropped a good 1200 on it, I get it cleaned and tuned up every year for free, that thing will most likely out last me.
Before that I used to cheap decent quartz run watches, they never lasted long.
But an iWatch, really? What happens when the battery dies from over charging it? Or it gets submerged in water? Or you drop it? Waste... definitely a 'show your wealth' type of watch.