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

Silver is the most electrically conductive metal on Earth. It also has high thermal conductivity, reflectivity, and antimicrobial properties. These characteristics make it difficult to substitute without sacrificing performance. That’s why around half of global silver demand already comes from manufacturing uses, with industrial demand dramatically rising over the past several years. 

If silver prices continue to rise significantly, industries won’t simply stop using it, but they will face higher input costs, tighter margins, and pressure to innovate. Some say that booming silver will pop the AI bubble, causing already grossly-unprofitable companies like OpenAI to hemorrhage even more money as silver becomes less affordable for data centers and server farms. Perhaps it will end up weeding weak players out of the AI marketplace, but that isn’t necessarily a bad thing. 

Advanced manufacturing, like robotics, will also feel pressure as silver costs rise, potentially favoring companies that can recycle or vertically integrate supply. Silver’s antimicrobial properties also make it valuable in medical devices, wound care, and hospital equipment. Meanwhile, defense and aerospace industries continue to rely on silver for reliability in extreme conditions. These sectors are typically less sensitive to price increases, meaning they will continue buying silver even during price spikes.

Gold and silver aren’t done yet, for many reasons. Industrial demand isn’t going anywhere, but here’s another reason: the Fed isn’t done printing money.

As Peter Schiff recently said on Kitco News,

“The fact that they’re buying short-term securities rather than long-term, which is what they were doing when it was an official QE program, is really a distinction without a difference…the bottom line is, they’re going to be printing money, expanding their balance sheet by buying US government debt instruments.”

But they can’t call it QE, because that would be an official signal that the economy is totally dependent on money printing for its continued survival:

“If they admit that we’re back in QE, that’s also an admission that it’s like a habit that we can never quit…it’s now a permanent factor in supporting the economy.”

2026 will be a year of QE; a monetary expansion that’s essential to “save” the system. Or, in other words, kick the can down the road and cause even more inflation.

Over the past eight trading days, silver is up 15% while silver mining stocks, as measured by $SIL, are up less than 2%. Stock investors are clueless when it comes to silver. They think this big move marks the end of the bull market. It's actually the beginning of the next leg.

— Peter Schiff (@PeterSchiff) December 30, 2025

Gold and silver will continue to challenge the banking system, revealing what the Fed is determined to hide. As the Fed prints, inflation will rage, sending metals higher and creating an even bigger bubble. This record-setting run for silver and other metals could portend a currency crisis as the system’s cracks widen. 

That’s why, instead of worrying about the silver or AI bubbles popping, Elon should be worrying about the Everything Bubble, which the Fed just keeps blowing bigger.