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…
2 comments:
Hmmm. So the gold alone would make each watch cost over $2500.... sure. What an idiotic post.
Yeah, but is in tune with much of the other horseshit around here...
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