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Apple Buy a Third of the World’s Gold?

Posted By: Frank Holmes
Posted date: March 01, 2015 11:30:37

If Apple makes 1 million Apple Watch Edition (https://www.apple.com/watch/apple-watch-edition/ ) units every month, that equals 24 million troy ounces of gold used per year, or roughly 746 metric tons [or tonnes].

That’s enough gold to make even a Bond villain blush, but just how much is it? About 2,500 metric tons of gold are mined per year. If Apple uses 746 metric tons every year, we’re talking about 30 percent of the world’s annual gold production.

http://www.valuewalk.com/2015/03/apple-aapl-gold/

http://blogs.wsj.com/digits/2015/02/17/apple-orders-more-than-5-million-watches-for-initial-run/