Saturday, February 28, 2015
Technology giant Apple (NASDAQ:AAPL) may soon buy up one third of the world’s gold in order to meet the demands of its highly anticipated Apple Watch, according to reports. – Mining.com link
Apple is planning on producing 1 million units per month of its new gold iWatch beginning in Q2 2015. According to sources each watch will contain 2 ozs of gold. If you extrapolate out, that translates into 746 tonnes of gold per year – roughly 30% of world annual gold mine production.
Even if Apple’s sales of this watch – which apparently has very heavy demand in China – fall short of Apple’s business plan by 50%, it means that Apple will become one of the largest buyers of gold in the world. This will place a lot more stress on the U.S./UK/EU Governments’ absurdly overleveraged fractional paper bullion scheme…
Posted by Freewill at 11:55:00 PM