25 October 2023
The AI boom is expected to increase industrial demand for precious metals. ChatGPT’s popularity has driven demand for AI-powered chips, benefiting companies like Nvidia. As AI tech becomes more advanced, it will require components rich in precious metals. Metals Focus predicts a rise in demand for metals such as platinum, silver-palladium, gold, and palladium in various AI components. Spot gold prices have recently risen by 9%, influenced by geopolitical events, boosting the outlook for other precious metals.