18K Gold Apple Watch could utilize 30% of world’s gold production to sustain demand

Remember the 18K gold Apple Watch we mentioned? Well if rumors are to be believed, then it seems like the company could be playing with matches in a room full of gasoline with regards to this particular device. One Josh Center who works with a company called TidBits did the math regarding the amount of Gold that Apple would require in order to sustain production and supply of the gold edition Watches they intended to sell, and the numbers were a little staggering.

As it seems, Apple could be bidding for a full one thirds of the world’s annual gold supply to get these watches to their loyal consumers. That’s no joke! The number was better explained with the example that about 7,000 metric tons of gold, the amount that’s stored at the Federal Reserve Bank of New York, could be utilized to meet the expected demand for the watches in less than 10 years!

This kind of cost analysis says that the global gold prices could be heading for some very rough waters as Apple has plans to sell at least a million gold Apple Watches every month! The thing about Apple is, it’s a rare thing for them to estimate a number that high that wasn’t more or less accurate. It’s said that Apple would need about 62.2 grams or 2 troy ounces of gold per watch and if their numbers are to be believed, then they’d require about 746 metric tons per year to produce the devices and that works out to about 30% of the world’s annual gold production.

If ever there was a big ‘wow’ moment for Apple, amongst the many many they’ve already had, this would be the biggest! And if ever there were a movie script about a massive gold heist from an anonymous company that manufactures a tech product, we know exactly who the story would be really about.

Via – CultofMac

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