Gold in circuits: electronics grows while other industrial uses decline
Gold does not only go into vaults: technology accounts for part of its demand. In the third quarter of 2026, this sector used 84.8 tonnes, up 3% year on year, according to the World Gold Council table published on 3 November.[1]
This is a reading of that report, not a new statistic released on 14 November or a 13:00 price quote.
## One sector, different directions
Electronics rose from 68.9 tonnes in the third quarter of 2025 to 72.5 in the corresponding period of 2026, with reported annual growth of 5%.[1]
Other industrial uses fell from 11.1 to 10.4 tonnes, while dentistry moved from 2 to 1.9 tonnes: the report gives an annual decline of 6% for each category.[1]
These are the WGC’s published percentages, not recalculations from rounded table entries.
The Reuters dispatch of 3 November, read on MarketScreener, carries the same figures for technology, electronics and other uses.[2]
That is journalistic reporting of the same WGC statistical base, not a second independent measurement.
## AI demand does not describe every device
The WGC describes a two-speed electronics market: investment in artificial-intelligence infrastructure supports gold use, while material thrifting and substitution limit consumption in lower-value applications.[1]
This does not establish that every electronic product contains more gold or that growth is uniform across the sector.
The report explicitly separates stronger electronics demand from declining demand in other industrial areas.[1]
Our editorial approach is to examine the metal’s destination before discussing demand as a single quantity. These are volumes used by a sector, not fund flows, official reserves or retail bullion quotations. Growth in this segment alone cannot determine the future direction of prices.
This article offers no buying or selling recommendation, expected returns or portfolio allocation. It keeps the observation period, July–September 2026, separate from publication on 3 November and today’s editorial reading. No live price is inferred from quarterly data.
## Sources
[1] https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q3-2026/technology — World Gold Council, Technology Q3 2026
[2] https://hk.marketscreener.com/news/wgc-lowers-outlook-for-gold-investment-demand-growth-as-bar-buying-slows-ce785fd9df89f525 — Reuters via MarketScreener, 3 November 2026