Will the Silver Boom Raise the Price of Tech?

Silver is booming. So, is Elon Musk right that the industrial need for silver will reveal that recent price action is only a bubble?  Or will the rise continue, raising the price of technology in the process?

One of the downstream effects of higher silver prices could certainly be higher prices for other goods that require silver, such as solar panels and electronics. But even before silver skyrocketed and began outperforming gold, consumers were already noticing that, despite their usual deflationary pattern, even goods like video game consoles and TVs don’t appear to be getting any cheaper anymore. 

The silver boom, part of a vote of no-confidence in the global financial system, might also lead to higher prices for technologies that require silver. But as market forces work their magic, it could also inspire new technological innovations that result in other materials being used. It could also drive decreased demand for goods that require silver, from computers to electric vehicles.

Silver vs. USD, 1-Year