WGC: Gold is a Critical Component in the Manufacturing of AI-Enabled Devices

AI devices have emerged as a cornerstone of modern technology.

SEATTLE (Scrap Monster): The World Gold Council's (WGC) most recent report examines the significance of artificial intelligence (AI) for the demand for gold. The gold trade association claims that gold has become a crucial component in the production of AI-enabled devices.

ALSO READ:

Gold Production Costs Climbed in Q2 This Year

WGC: Global Gold ETFs Saw Inflows of $4.3 Billion in October

WGC report noted that gold plays a crucial role in electronic devices. It is an essential part of the chips used in electronic devices because of its physical and chemical characteristics, which enable it to be sculpted into incredibly thin wires and dependable coatings, as well as its anti-corrosion feature. The demand is anticipated to stay high, mostly due to the lack of alternatives, even if firms in the electronics sector have decreased their use of gold due to the sharp increase in gold prices.

AI devices have emerged as a cornerstone of modern technology. AI systems are powered by processors, memory chips and sensors, all of which utilize gold. The projected advancement in AI technology will boost the demand for more sophisticated and powerful hardware, which in turn will drive demand for gold.

The need for gold will rise even more as other industries, like healthcare and finance, increasingly adopt AI technology. According to WGC, the main factor driving demand will be the constantly changing technological sector.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index