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Apple Watch may spark global gold rush


economy

Apple Watch may spark global gold rush

Gold dealers may be running their hands with glee over the new Apple Watch.

The Cupertino-based firm may consume up to 746 metric tonnes of the precious metal per year in the production of its new luxury gadget. That equates to roughly one-third of gold’s total annual global mine supply.

The watch will come in three varieties – the entry level “Sports” model, the mid-tier “Apple Watch” and the upper end “Apple Watch Edition” which the company says will be made of 18k (75% pure) gold and is estimated to retail from anywhere between $4,000 and $10,000.

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