Gold Digger: Apple Watch may use 30% of global gold supply

According to a report complied by long-running Apple site TidBits the upcoming Apple Watch may use as much as 30 percent of  global gold supplies.

Admittedly the figures are based on several assumptions, such as sales expectations, but they roughly estimate that Apple may end up using around 746 metric tonnes of gold throughout the next year.

This figure is based on Wall Street Journal projections that Apple will produce one million ‘Edition’ watches every month.

The report gives an estimate that some 2,500 metric tonnes of gold are mined annually.

Get ready to pay upwards of $10,000 for a gold Apple Watch

You only need to cast your eye over the price of any gold Rolex or Omega to get an idea for how much a quality gold wristwatch will cost you.

Stephen Foskett of Grail Watch explores how Apple’s entry into the watch market will no doubt see their 18-karat ‘Edition’ watch retail for prices in excess of $10k.