Apple to Buy ONE-THIRD of World Gold Supply!

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Demand for gold keeps on rising and rising. China buys unknown exorbitant amounts, and Russia isn’t far behind. 

India is about to rescind a tariff on gold that will likely up their buying as well. Now, enter Apple, which new iWatch will contain 2 ounces of gold. That’s $2,400 worth of gold in each watch.

 

With China buying up practically all of the gold mined every year, where will all this gold come from?

And how will prices remain low in the face of such increased demand?

 

The model comes with an 18-karat gold case, designed to be “twice as hard as standard gold.” It also utilizes a sapphire crystal display, and can be outfitted with either a leather or sport wristband.

“Technology giant Apple (NASDAQ:AAPL) may soon buy up one third of the world’s gold in order to meet the demands of its highly anticipated Apple Watch,” reports from Mining.com.

“Interest in the high-end model, featuring 18-karat gold casing, is picking up and the firm is already taking the necessary steps to have enough of them in stock. According to WSJ.com, Apple plans to start producing more than one million units per month in the second quarter of the year, anticipating high demand from Asian markets, mainly China.

This Apple Watch could cost as much as 10 iPads.

Josh Centers, from TidBits, estimates that each gold watch will contain 2 troy ounces (62.2 grams) of gold. So, based on the estimated sales figure, he concludes that,”