people say it will go to one thousand dollars an ounce or more but if it showed signs of going that high tech companies would likely switch to cheaper metals as alternatives and phasing silver out. it probably would not sky rocket for that reason alone.
i think so many people have silver that if it did go up to one thousand dollars an ounce it would cause economic inflation.
am i mistaken or did i miss something?
I doubt that silver will ever skyrocket in the sense that it goes over $1,000 an ounce.
It could definitely do that once fiat collapses but it'll never be $1,000 an ounce in 2017 USD value. I mean there is absolutely no reason, none why that would happen other than a huge ass bubble occurring.
As you said silver although used in electronics can be replaced by other metals if it were to be that high. There is no point for companies to keep using silver when there are cheaper alternatives around that does the job, but maybe just a bit less conductive.
I do hold a few ounces of silver and I'm by no means a silver hater. Just feel like that silver although better than gold is still impractical for day to day transactions involving small change, as it is not divisible as cryptocurrencies like btc.