Gold Demand in Technology Witnessed Notable Surge

SEATTLE (Scrap Monster): The demand for gold in technology witnessed significant surge during the first quarter of 2021, said the latest Gold Demand Trends report published by the World Gold Council (WGC). The consumer confidence continued to recover from the pandemic impacts.

According to WGC, the demand for gold in the technology sector during Q1 rose by 11% y-o-y to 81.2t. The demand had totalled only 72.9t in the similar quarter a year before. The electronics sector demand registered 13% year-on-year growth from 58.7t to 66.4t. The other industrial demand was up by 9% over the previous year, whereas the dental demand continued its decline, falling by approximately 9% to 2.9t.

The strong demand for high-end consumer electronics, such as laptops, tablets and TVs coupled with recovery in automotive sector resulted in notable increase in LED gold use, which rose between 10%-13% over the previous year. The robust demand for 5G infrastructure and devices contributed to the steady 2.4% growth by the wireless sector.

Meantime, the memory sector too posted steady growth during the quarter, registering 3.6% year-on-year growth in gold demand. Also, the PCB sector gold demand witnessed notable surge by 15%-18% year-on-year.

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