Modern Mining January 2025

Most industry experts have been surprised because gold has been surging for reasons other than the traditional ones.

There are expectations of increased appetite for gold investments going forward.

base with the outlook remaining cautious.

from investing in gold. With interest rates expected to continue falling in 2025, there are expectations of increased appetite for gold investments going forward.” Technology markets increase efficiency to reduce gold consumption While a soaring gold price bodes well for investors and gold miners, it is, however, damaging

“The gold price, which breached barriers to new highs, has seen jewellery buyers retreating; purchasing less gold in 2024. On a more

positive note, the technology sector recorded decent growth over the last three quarters, with increased

The key driver underpinning a surge in the price of gold is the rekindled investor interest following interest rate decreases in Europe, and, towards the end of the quarter, from North America.

demand from the electronics segment, in particular. The

revolution taking place in artificial intelligence has led to a scramble for high powered chips and integrated circuits. Globally, there has been a surge in the number of consumers purchasing more powerful computers for data centres, which has boosted demand for gold from the technology segment.”

to certain sectors of the gold market, such as jewellery and technology markets. According to the report, bar and coin investment at 859 t was down 9% y/y, from a relatively strong Q3’23. Gold jewellery

consumption (459 t) sank 12% y/y despite strong growth in India. Although consumers bought reduced quantities, their spend on gold

While gold remains an essential component of high-tech applications, demand for the precious metal is small, representing between seven and eight percent of total demand. “Even though demand from the technology sector seems

jewellery increased: the value of demand jumped 13% y/y to more than $36 bn. AI also continued to support the use of gold in technology (83 t) and grew 7% y/y albeit from a fairly low

JANUARY 2025 | www.modernminingmagazine.co.za  MODERN MINING  13