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this post was submitted on 04 Sep 2024
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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/
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.