Apple to Buy 1/3 of Global Gold Supply for its i-Watch

[ahhming]

The Wall Street Journal - Apple is gearing up to make 1 million of the gold watches per month.
How much gold would be in each watch? This is where speculation is running wild. Some estimates are as high as 2 ounces per watch. If there is even 1/2 ounce per watch, Apple is going to become a huge gold buyer alongside India and China, and the demand could potentially reach 1/3 of global gold supply!

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.”

 

 

Josh Centers, from TidBits, estimates that each gold watch will contain 2 troy ounces (62.2 grams) of gold.

Base of this estimates, Apple will need 746 tonnes a year of gold, about 30% of the world annual production in order to meet the demand.
 
source:
http://www.mining.com/apple-buying-a-third-of-worlds-gold-to-meet-demand-for-iwatch-14071/
 
http://www.silverdoctors.com/apple-to-buy-13-of-global-gold-supply-for-i-watch/

[Tonylu1595]

What. People won't buy that much.

 

I think most people would be satisfied with a gold color painted watch uses way less gold.

[Altecice]

 

Apple will need 746 tonnes a year of gold, about 30% of the world annual production in order to meet the demand.

 

 

What demand? I haven't herd of anyone wanting to buy one let alone a gold one. Also 2 ounces of gold per watch?... come on I really doubt that.

[Dabombinable]

Yeah..... and how long will it take the gold to start showing signs of heavy wear hmm?? Apple isn't thinking ahead that far by the looks of things.

[gilm0re3]

FIRE UP THE PARTICLE COLLIDER, CUZ WE'RE GOING TO NEED TO MAKE MORE GOLD!

[SeanBond]

Not only is this sounding fake as hell, it's also a horrible idea. Unless they start selling youth in golden bottles I don't think they could ever sell that much gold. 

[DaedalusOS]

Apple... what are you doing these days....

 

This makes the Atari E.T. fiasco come to mind...

[That Norwegian Guy]

They have quite the misplaced faith in this product, don't they.

[ahhming]

What demand? I haven't herd of anyone wanting to buy one let alone a gold one. Also 2 ounces of gold per watch?... come on I really doubt that.

they anticipating high demand from Asian markets, mainly China.

[Trik'Stari]

Apple, STAHP, that gold could be used for much better and less idiotic things.

[Butterfish]

Ain't the watch just gold plated?

[Altecice]

apple already have preorder in china about 1mil of them

 

Yeh but not 1million  gold ones surely? ... my faith in humanity is slowly draining away.

[RevoltTrain]

Apple.

 

Stahp.

 

Apple PLS

 

APPLE STAHP

[Dabombinable]

Apple, STAHP, that gold could be used for much better and less idiotic things.

Like a gold plated GTX Titan....

[Guest]

Fucking waste of resources.

[DaedalusOS]

Like a gold plated GTX Titan....

 

[Trik'Stari]

Like a gold plated GTX Titan....

Or I don't know, that foil they use to protect spacecraft, making semi-conductors, you know, all those things that can help advance mankind.

 

No, fuck it, lets just make asinine watches for hipsters who can't actually afford the fucking things in the first place.

[SMR]

Gold is known to resist well to abuse through time, so why waste it on apple product that will be obsolete in a year ?

[Trik'Stari]

Gold is known to resist well to abuse through time, so why waste it on apple product that will be obsolete in a year ?

And 99% of their customers wont be able to afford.

[SXCS23]

I run a local tech shop and we are an authorized retailer of Verizon. Out of the 50+ people I talk to every day (Verizon and non Verizon customers), I haven't heard one person that owns an iPhone remotely interested in the Apple Watch. It's not to say people don't want it or are not interested.

 

I see it like this.

1. It only works with the iPhone
2. The iPhone has, what I estimate, ~20% market share.
3. Of that ~20%, a very small percentage are interested in the watch.

 

Why the need for all of that gold? I'm betting it's for the gold iCar they're likely to release after the silver and 'space grey'.

 

 

[mikat]

What. People won't buy that much.

 

I think most people would be satisfied with a gold color painted watch uses way less gold.

You wait and see my friend

[kuddlesworth9419]

Gold is a soft metal. For an expensive watch I wouldn't put gold anywhere on the outside. On the hands or as trim on certain places that would make a better idea. Most watches are made from steel even the most expensive watches for a reason. Apple won't change that and the iWatch will be a failure just like every other smart watch until someone actually makes a smart watch that takes a normal high end watch and gives it more functionality. A normal watch with a see through screen over the top to add further functionality. 

[RedRound2]

Ain't the watch just gold plated?

 

Nope, the whole outer shell is made of gold

[Dabombinable]

1 GTX Titan that's actually worth the price coming up.

 

/s just for the noobs

[SMR]

And 99% of their customers wont be able to afford.

 

You're right. Though apple fans always surprise me when it come to find funds for a new "revolutionary" product.