Silver—The "Life and Death Race" of Technological Substitution

The biggest variable at present is "de-silverization."
Due to the excessively high silver prices, the photovoltaic and electronics industries are accelerating the technological revolution of "copper replacing silver" (such as silver-plated copper and electroplating copper technologies). This is a double-edged sword:
● Short-term: Manufacturing pain, high silver prices must be paid.
● Long-term: If copper technology becomes fully mature, industrial demand for silver could be permanently weakened.
Recommendation: If you are focused on metals, now is a pro-cyclical time; if you are focused on photovoltaics or tech manufacturing, it is crucial to monitor the technological progress of these companies in "reducing silver consumption," as this will be key to their future profitability.