– 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.