Apple, the new Goldmember in town

Remember that WSJ article that threw around a few numbers for the Apple Watch production a few days back? It said that Apple plans to eventually produce one million Apple Watch Edition models every month eventually from the second quarter. A lot of people have debated the validity of this number of the Apple Watch's most premium model, that might supposedly run to even un to $20,000, according to some. But WSJ's track record from the past on such insider articles about Apple, makes it is hard not to believe these numbers however insane they are. So lets assume for the sake of argument that WSJ was right and Apple indeed is planning to make a million Edition Apple Watches per month. What does this mean for the amount of gold Apple needs to make these? This intersecting article has some fun math for you. 

Let’s assume that each Apple Watch Edition contains 2 troy ounces of gold... If Apple makes 1 million Apple Watch Edition units every month, that equals 24 million troy ounces of gold used per year, or roughly 746 metric tons... 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.
— TidBITS

Wow, this is crazy, there should be something wrong with the math here, right? Nope. Its just what it is. Now even if WSJ has this  number of Edition models wrong by a factor 10 or 5, its still a significant amount of gold, at around 3 to 6% of the entire gold mined globally. I guess this makes it the right time to invest in gold, huh! With more demand, its prices are sure to shoot up, if this piece of news is even remotely accurate. 

The Apple Watch Edition a watch case crafted from 18-karat gold (Source: Apple.com)

The Apple Watch Edition a watch case crafted from 18-karat gold (Source: Apple.com)