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November 16th, 2007
Can you briefly explain which applications of gold, which accounts for nearly 500 tonnes a year? How much growth do you here?
• Industrial and dental demand reached a new record of more than 450 tonnes of gold in 2006. It beat the previous record reached in 2000. And in dollar terms this 2006 record was US$8.9 billion. This equates to 13 percent of total gold demand, slightly more than that retail investment demand. A good proportion of this industrial demand comes from the electronics sector, where as you may know gold is used for the bonding wire connections inside microchips and as a coating on contacts and connectors.
Now at World Gold Council, our view is that with manufacturers continuing to look for cheaper alternatives to gold and the dental market likely to slowly decline, the discovery of new industrial uses for gold is important if industrial off take is to remain healthy in the long-term. We've a number of programs aimed at developing new industrial uses, including funding of research and technical feasibility studies.There are some very interesting applications in the field of nanotechnology, including emission control technologies and medical applications, including cancer treatment. All of these exciting new applications have been made possible due to the unique properties that gold possesses. You can find more information on http://www.utilisegold.com
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