Thursday, 22nd March 2007 (1233 views)

Long-term demand for gold could be driven by the precious metal being utilised in a number of different operations.

The Rand Refinery 2006 Annual Report says that gold is increasingly being used by large firms such as Dow Companies and BP as a processing catalyst in the development of vinyl acetate monomer, an ingredient in paints and adhesives.

Such a process involves using gold nanoparticles, which the report estimates has resulted in many tonnes more of gold having been demanded.

The report also states that nanotechnology is set to be used in an even greater number of processes, including air cleaning, pollution control and the production of bulk chemicals.

Such technology may also be useful in the purification of water as well as a variety of medical procedures, a situation likely to increase the demand for gold to an even greater extent.

 

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