Nanotech and the Price of Gold

We are used to nanotechnology taking the blame from everything from exacerbating global wealth inequalities to enabling borg like transhumanists to take over the galaxy, so it takes a lot to shock us.

JP Behrens, who writes for wealthdaily.com has some interesting comments on how nanotechnology is driving up commodity prices which left us gasping at such a breathtaking display of stupidity.

“Unlike carbon, gold doesn’t attach to everything, but only to specific areas. It finds points to attach to, and limits where it settles. Once it chooses to settle, technicians can find the spots and attach materials to them with ease. … This new precision allows nano-architects to use more meticulous actions in building newer materials faster. … What this is doing, however, is bringing up the demand for gold.”

The gold price is affected by a number of factors, global uncertainty, the exchange rate of the south African rand against the US dollar etc., but has little to do with nanotechnology.

For a more considered and informed view of the nanotech applications of gold the World Gold Council is a good place to start.

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