The growing need for computer chips powering AI technology will boost demand for various components containing precious metals, according to an article by Oilprice.com, which sourced Metals Focus, an independent precious metals research consultancy.
This year, industrial and tech demand for precious metals has been low due to a sluggish global economy. For instance, gold demand in the tech and industrial sector was down by 3 percent year-on-year in the third quarter, with a 4 percent decline in the electronics sector. However, Metals Focus believes the rise of AI technology will likely reverse this trend in the coming year, affecting not only gold but also silver, platinum and palladium.
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