Technology Sector Gold Demand Dipped 2% in 2019

SEATTLE (Scrap Monster): The gold demand in technology sector during the full year 2019 witnessed decline.

According to figures published in the World Gold Council (WGC) Demand Trends Report, the yearly demand totaled 326.6t in 2019, which is lower by 2% when compared with 334.8t in 2018. The weakness in global electronics industry mainly accounted for the drop in demand. The gold consumption by the electronics sector fell by 2% to 262.2t in 2019. Meantime, demand showed signs of recovery in the fourth quarter, rising marginally by 1% over Q4 ’18 to 68.2t.

The wireless sector continued its strong growth in Q4 last year, with gold demand reporting 30-40% rise over the year. The rise in demand was mainly driven by the rapid rise in 5G infrastructure deployment. As per industry forecasts, the wireless sector gold demand is likely to remain positive for some more time to come.

The global LED market was down 6-8% in Q4 last year. The memory sector recorded growth, though at relatively lower levels of 1-3%. Also, the printed circuit board (PCB) sector recorded 7-10% growth during the quarter.

The gold demand in dental sector continued to decline, with 9% year-on-year decline to 13.9t. The gold used in other industrial applications witnessed a minor decline by 2% from 51.2t in 2018 to 50.1t in 2019.

YOU MAY ALSO BE INTERESTED IN:

WGC: Annual Gold Supply Rose 2% in 2019

Gold Mine Output Posted First Decline Since 2008