Apple Major New Gold Buyer – Propel Gold Higher?

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There is a major new buyer in the gold market – Apple

– New Apple watch could use up to one third of total annual gold supply

– Apple expects to sell one million gold watches per month

– Each watch to use up to two ounces of gold

– May have enormous ramifications for gold market and propel prices higher

Apple may consume up to 746 metric tonnes of gold per year in the production of its new luxury Apple watch, due for release in April. This equates to roughly one third of gold’s total annual global mine supply.

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One thought on “Apple Major New Gold Buyer – Propel Gold Higher?

  1. One million units per month using 2 ounces of gold would amount to the 746 tonnes.

    The ramifications for the gold market based on these estimates are significant. Currently, China is already buying more than 1,500 metric tonnes annually or more than 50% of global supply.

    With an enormous buyer like Apple coming into the market, supply is going to have to come from existing stocks of gold. That is to say, supply does not exist to meet this new demand.

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