If anyone could make gold jewelry fashionable to Americans and Europeans, it’s Apple Inc.
U.S., U.K. and Italian demand for baubles made from the metal has been cut in half over the past decade, according to data compiled by Bloomberg from the World Gold Council, as shoppers favored white-colored metals such as silver and platinum. Apple’s status as the arbiter of cool means its new $10,000 gold watch and yellow iPhones and MacBooks may entice consumers to buy other gold ornaments, said Neil Meader, a precious metals consultant at Metallis Consulting Ltd.
Apple, which called gold “uniquely luxurious†in its advertising, has a history of swaying consumer tastes with its designs for touch-screen phones and portable music players. While the watch won’t move the price of gold, the publicity benefits the metal that in the U.S. and Europe suffers from a reputation as old-fashioned, Meader said.
“If you were to gold plate a Ferrari, it would just end up tacky, but if you use gold in a high-technology product like this, it makes it seem more relevant to the younger customer,†Scott Thomson, the managing director of Astley Clarke Ltd., which sells jewelry in retailers including Harrods and Selfridges, said by phone from London. “This is definitely a positive development.â€
