“If you’re a retail investor with a keen interest in tainted laminated flooring from China, today should be plenty interesting (more on that below). If not, Monday will probably start off slowly,” Shawn Langlois reports for MarketWatch. “Just like it ended on Friday. Investors could use this bit of quiet to reflect on what was a sneaky February rally.”
“Don’t let last week’s equity lull and the slow start this morning fool you,” Langlois reports. “A barrage of economic numbers will soon start flying at us from all sides, beginning with some manufacturing numbers today, followed by car sales tomorrow, and then a steady flow on up to the jobs number on Friday.”
“Gold prices don’t appear to be too concerned that stocks are moving higher in the early hours,” Langlois reports. “Why would they be? Apple, at least according to our call of the day, could be about to goose prices by buying up unfathomable amounts.”
Full article here.
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Demand for Apple Watch could use up a third of the world’s annual gold production – February 25, 2015
Apple is going to sell tens of millions of Apple Watches, but I’ll bet less than 5-10 % are likely to go out with Gold cases.
That is not going to make a dent in the world gold supply.
Millions of watches sold, even if only a small percentage are ordered in gold, has resulted in some estimates of Apple using up nearly a third of annual world gold production for the Watch alone. But if they think that is going to make waves, then the gold version of the Car will make cause even more disruption in the gold market. Can’t wait….
I saw the analysis, but the blogger was comparing the potential Apple need vs NEW gold mined production. Much of gold used in a year is recycled gold, so the impact will be far, far less.
If Apple expected to need a huge amount of gold for forthcoming Apple Watches, they would have sourced it and paid for it some time ago.
It’s simply not Apple’s way of doing things to wait until a few weeks before the product goes on sale before buying the raw materials.
Only ostentatious and status conscious wealthy people and rap, hip-hop stars with too much money will go blingy gold. And hey, good for them. The rest of us mostly want an attractive, reasonably priced & functional Apple Watch made out of standard but hardy materials.
Gold and silver watches have been around for a long time. And Apple is reportedly going to use a special 18k gold alloy that is much harder than standard 18k gold. So durability may not be a big deciding factor, especially in comparison to the aluminum-bodied Apple Watch.
I don’t see any reason to group, label, and disparage people who decide to go for the gold. We don’t even know how much it will cost, yet. The rumors range from several thousand to twenty thousand dollars.
Like I essentially said, more power to those with plenty o’ gold to buy the gold one. Fortunately there’s one for every price range.
As long as the price of beer doesn’t spike, I’m good.