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yaba3800 t1_j7ql3vh wrote

Reply to comment by [deleted] in Gold deposit potentially worth $3 billion found near Republic by WashingtonPass

~80% of gold is used in electronics

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rosesandpiglets t1_j7qnw2u wrote

That’s a dubiously sourced stat fyi, gold.com is not a reliable source.

The US Geologic Survey, a non biased 3rd party not trying to sell you something, puts the number closer to 10%

“Estimated global gold consumption was jewelry, 47%; physical bar, 21%; central banks and other institutions, 14%; official coins and medals and imitation coins, 10%; electrical and electronics, 7%; and other, 1%.”

https://pubs.usgs.gov/periodicals/mcs2022/mcs2022.pdf pages 72-73

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giant2179 t1_j7qvmtf wrote

Based on that breakdown, it appears that approximately 80% of consumer used gold is in electronics, i.e. way more than is used for jewelry etc... Just my guess for what that stat really means

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rosesandpiglets t1_j7qwys9 wrote

That’s not what that means.

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Snooder365 t1_j7rkofo wrote

Genuinely no idea how they manage to read that so incorrectly... Just to truly reiterate it: "Estimated global gold consumption was jewelry, 47%; physical bar, 21%; central banks and other institutions, 14%; official coins and medals and imitation coins, 10%; electrical and electronics, 7%; and other, 1%"

How much clearer can that get?

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rosesandpiglets t1_j7rl8nt wrote

Yeah I really don’t know. Like it literally just lists the percentages… not a lot to misconstrue

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Deprecitus t1_j7qlek9 wrote

Gold is a very good conductor.

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