Apple is targeting to sale 1 Million Watch Edition per month which may use up third of world’s gold
A recent report talking of the upcoming Apple Watch has revealed rather interesting facts about the device; predicting the demand in advance Apple watch could be using up at least a third of the world’s gold supply. The revelation has surely left some jaws dropped till the floor because this is really lot of gold and this comes after the reports which claim that apple has plans to sell one million gold edition units per month. If this holds even a speck of truth then the world’s economy is in for a twist and so are the global gold prices.
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If apple has decided upon its gold watches and if the demand soars is high enough then the fruit giant is really going to need that much amount of gold which surely is no joke however we really do not think these numbers are accepted without a fraction of doubt since the possibility of apple meeting up the demand leaves us to wonder if all gold worth 7,000 metric tons stored at the Federal reserve bank of New York could be used up in a decade.
Thanks to the extensive math done by tidbits, the report states that Cupertino giant will be using up 746 metric tons of gold on a yearly basis to produce one million units of apple watch edition every month. Saying that Apple would be consuming approximately 30 percent of gold produced is no over statement since the world produces 2.5 metric tons of gold each year. Obviously there are numerous “ifs” are attached with these calculations and they are ultimately based solely an assumption and no real numbers which apple might have slipped through its doors. But Apple has been known as a bulk buyer of suppliers to cut down on the costs luxurious it might sound on how high the price ends up at.
Apple Watch will be in stores soon as Apple has already ordered 5 to 6 Million Apple Watches ahead of its release in April.
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