this post was submitted on 04 Sep 2024
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132
Gold Nuggets Can Be Formed With Electricity, Scientists Claim (futurism.com)
submitted 2 months ago by [email protected] to c/[email protected]
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[โ€“] [email protected] 2 points 2 months ago (1 children)

Most of the gold's price comes from it being used in jewelry and as an investment. Less than 7% of gold is used by the tech industry

https://www.statista.com/statistics/299609/gold-demand-by-industry-sector-share/

[โ€“] [email protected] 3 points 2 months ago* (last edited 2 months ago)

Well, that is the amount gold that is mined or recycled every year that is used in electronics. The thing is though, a lot of the gold used in electronics is never recovered. So a considerable amount of the gold used in electronics is removed from from circulation in a way the gold in jewelry or bullion or coins isn't. It isn't the primary driver of gold's price increase, but it is a significant factor.