WGC Outlines the Vital Role Played by Gold in Technical Applications

The gold consumption by the electronics sector surged higher by 4% to 265 tonnes during the past year.

SEATTLE (Scrap Monster): The World Gold Council (WGC) has announced publication of the July 2018 edition of ‘Gold Investor’. The edition focuses on technology and analyzes gold’s potential in playing a key role across current and future technological developments. Apart from its wide use in electronics, gold is extensively used in healthcare and biotech industries.

According to Trevor Keel, Consultant, WGC, the technology sector has witnessed tremendous growth in recent years. The sector growth is predicted to expand over the next decade and beyond. As per estimates, the amount of gold used in technology sector rose by nearly 3% in 2017 to 332.8 tonnes. The demand during the last quarter of the previous year touched the highest in three years, Keel noted.

Traditionally, the electronics sector accounts for bulk of the demand for gold in technical applications. The gold consumption by the electronics sector surged higher by 4% to 265 tonnes during the past year. However, its unique properties have led to increased use in many other industries. The use of gold nano particles in medicines is likely to revolutionize healthcare and medical industry. Even though the volume of gold used may be minute, it may result in a wide range of potential applications that may have significant impact on people’s lives.

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Elvis Chou of Metals Focus noted that gold bonding wire (GBW) within semiconductor packages continues to remain as the most widely used interconnection technology. The ever-growing memory capacities of smart phones, laptops, PCs, cameras and IoT devices will translate to rising gold demand. Gold remains a preferred metal for wire bonding in electronic control systems used by automobiles.

The use of gold will get further boost with widespread use of fingerprint sensors in consumer electronic devices and infrared sensors in automotive, security and surveillance and industrial automation systems. Incidentally, many of these sensors require gold. Other sectors such as 5G services are also likely to support gold demand growth in near future.

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