Gold Is ‘Invaluable’ to Technology Sector, Higher Metal Demand Inevitable—WGC

The comments below are an edited and abridged synopsis of an article by Anna Golubova

There is a significant recovery in gold demand within the technology sector, says the World Gold Council (WGC), which notes that gold has a big role to play in the electrification of vehicles.

Technology demand for gold accounted for more than 380 tonnes of the yellow metal used annually over the past decade, which is nearly 13% more than central bank net purchases.

“Gold’s role in this vibrant and growing industry is broadly unrecognized and often misunderstood,” the WGC CEO Aram Shishmanian recently wrote.

Tech sector demand for gold tumbled in the first part of the decade but is now rebounding: providing more memory in electronic devices; vehicle electrification; fingerprint sensors in electronic devices.

Gold is making headway on the healthcare front as well, with news about the use of gold nanoparticles in diagnostic testing, gene therapy, skin reconstruction and antiviral drug production.

Gold has been linked with health for millennia, but in recent years, a host of new diagnostic tools and treatments have been approved by regulatory authorities worldwide.