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Gold November 11, 2019 11:30:23 AM

Gold Used in Technology Sector Dropped 4%

Paul Ploumis
ScrapMonster Author
The electronics sector reported substantial drop in the amount of gold used for LED and memory applications.

Gold Used in Technology Sector Dropped 4%

SEATTLE (Scrap Monster): The ‘Gold Demand Trends Q3 2019’ report published by the World Gold Council (WGC) noted that gold used by technology sector registered fourth straight quarter of decline. The sector usage of gold totalled 82.2t in third quarter this year, down by 4% when compared with the imports of 85.4t in the corresponding quarter a year before.

The electronics sector reported substantial drop in the amount of gold used for LED and memory applications. The sector gold usage posted 3% decline from 68.8t a year before to 66.5t in Q3 ’19. The gold used in LED applications reported sharp decline by around 10%. The memory sector too registered marginal decline. Meantime, the Printed Circuit Board (PCB) demand remained stable during the quarter.

The demand for gold in dental applications continued to report decline. The slowdown in demand, witnessed across all territories, dragged the dental demand by 7% to approximately 3.5t. Meantime, gold used in other industrial applications fell by nearly 5% from 12.9t to 12.2t.

Although the gold demand from various sectors reported notable decline during Q3 this year, WGC noted that there are clear indications of demand recovery from some of the key electronics sectors.

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