Daily Gold Market Report

From Smartwatches to AI:
The Surprising Connection Between Platinum and the Next Tech Boom

(USAGOLD – 3/22/2024) Gold prices are lower on Friday, after fading the all time high. Today, the U.S. Congress is making efforts to prevent another federal government shutdown, but the marketplace seems largely indifferent. Gold is trading at $2174.72, down $6.16. Silver is trading at $24.75, up 1 cent. A recent article from the World Platinum Investment Council discusses the increasing demand for platinum thin film coatings due to their critical role in semiconductor and sensor applications. With the generative AI market expected to grow to approximately $1.3 trillion over the next decade, the need for semiconductors, which are integral for AI functionalities like processing and data sensing, is also surging. Platinum, known for its conductivity and stability, is identified as an ideal material for sputtering targets used in creating these thin films. This technology is pivotal for advancements in microelectromechanical systems (MEMS), nanotechnologies, and in enhancing the efficiency of battery electric vehicles by improving battery life through precise temperature measurements. Additionally, platinum thin films are being used in the rapidly growing market for wearables, like smartwatches and health trackers, for continuous monitoring of vital signs. Bosch’s investment of three billion euros in its semiconductor and sensor business by 2026 underscores the importance and growth of this sector.