Thursday, February 26, 2015

Demand for Apple Watch could use up third of world’s gold | Cult of Mac

Interesting times

"We’re still waiting for the final pricing details on the Apple Watch, but if recent reports that Apple plans to sell one million gold Edition units a month are true, Apple Watch could wreak havoc on gold prices and do who knows what to the global economy.

Josh Center at TidBits has done some math on Apple Watch and estimates that if production rumors are correct, Apple will be bidding for a third of the world’s annual gold supply to make enough gold watches to meet demand.

To put those numbers in perspective, Apple needs so much gold it could turn the all 7,000 metric tons of gold stored at the Federal Reserve Bank of New York — you know, the one from the plot of Die Hard 3 — into gold watches in less than a decade."
Demand for Apple Watch could use up third of world’s gold | Cult of Mac
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