Last updateThu, 18 Jan 2018 10am

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One fifth of the world's gold is buried in London - and here's where it's hidden

SECRET vaults in London house one fifth of all the gold on the planet, with a staggering £172 billion worth of bullion tucked away under the capital’s streets.

sun gold

Vaults under the Bank of England on Threadneedle Street are said to hold 5,134 tonnes of gold, making up the majority of the 6,256 tonne total kept safe underground in London.

Bars of gold bullion are popular with investors because gold will, in theory, always retain its value – no matter how volatile the world economy is.

Last chance to apply for one of GIA’s 125+ scholarships

GIA 4 26GIA (Gemological Institue of America) has sent a reminder that their scholarship application deadline is this Saturday, April 30. Prospective GIA students have the opportunity to apply for 125+ scholarships, totaling more than $500,000, for Gemology and Jewelry Manufacturing Arts programs, courses and lab classes. Directions on how to apply online can be found at http://www.gia.edu/gem-education-scholarship-instruction-information.

How Social Media can put you at risk

The story described below is of a robbery of a Baltimore jewelry store that occurred in January of 2013. The origins of the plot began in November of 2012. This was right around the time when we started tracking a transition in the methods used by criminals who were committing jewelry crime.

In the news report, a group of jewelry criminals spent months and used GPS tracking devices and extensive surveillance to target Antony jewelers in the Baltimore area. These types of organized jewelry crimes like the one in the news report have historically been committed by SATGs (South American Theft Groups) or as they are better known in the jewelry industry - the “Colombians”. These groups primarily targeted traveling jewelers as they crisscrossed the country. However, as travelers began to ship more and more of their jewelry rather than carrying it over the road with them, SATGs and other organized criminals were forced to make a change. They adapted the successful methods that they used to target the traveling salesperson and began exploiting the retail environment with the same successful methods.

Gold has everything in its favor

Opinion piece from MarketWatch says gold prices could surpass 2011 highs

MW gold

Left for dead for almost four years, gold has suddenly made an amazing comeback: It’s up over 50% this year.

Will the strength of gold GCM6, -0.25% continue, or is the party over?

Several gold investors who have enjoyed the ride so far believe the next move is up from here — possibly even taking out prior highs for the metal.

Gold traded on Friday for $1,245 an ounce. It went as high as $1,895 in 2011.

The SJG Smart Business Report

SJG ChandlerAnn Glynn, President/CEO Southern Jewelers Guild, discusses lab grown diamonds with Terry Chandler, President of the Diamond Council of America.

“No gold digging for me; I take diamonds. We may be off the gold standard one day.” - Mae West

Twice a year, I am lucky enough to attend the Atlanta Jewelry Show. The show, in its 66th year, is run by a team of magnificent women, headed by Carol Young, Executive Director of the Southern Jewelry Travelers Association, the official sponsor and producer of the show. There are many reasons why I love attending this show, but one of the top reasons is because I really enjoy the “Engagements” Panels that are moderated by my friend Kathy Beall.

Apple Watch sales expected to drop in 2016

Despite all the hype that the Apple Watch would be the next disruptive device, the sales pace for the watch is expected to fall at a 50 percent annualized rate in 2016.

apple watch Reuters 640x480

Apple shipped 10.6 million watches during the eight months it was offered for sale in 2015. But Taiwan’s KGI Securities, which keeps close tabs on all Chinese manufacturers and suppliers, estimates that 2016 Apple Watch shipments will tank over the 12-month year of 2016 to just 7.5 million, according to a report by 9to5 Mac.

Apple recovered 2,204 pounds of gold from broken iPhones last year

As if Apple needed the cash, the company has discovered a way to make tens of millions of dollars off of old, broken, unwanted iPhones.

apple gold recycling

In its annual environmental report released this week, Apple said it recovered 2,204 pounds (more than a ton) of gold from recycled iPhones, iPads and Macs last year. That's $40 million worth.

Gold is used in consumer electronics because it is highly averse to corrosion and an excellent conductor of electricity. Silver is actually the best conductor, but it corrodes easily. Copper is super-cheap, but it moves electrons too slowly for some of the most important computing tasks.