Raw PMs such as silver typically don't make up a huge chunk of the overall components costs, so the effects shouldn't be that great. You have to remember that part of the valuation of such commodities come from the demand from these industries, the demand goes, the valuation will fall.
As an aside, the PM boom is mainly down to Bernanke's latest printing of $600bn and the Eurozone crisis. I think it's clear from here that all policies that Gov'ts make will be towards monetary tightening, thus leading to a fall in demand for non-currency value holders. PMs fell on Chinese plans of fiscal tightening to curb inflation, and I think they may have peaked.
These are just my views on what's going to happen in the markets... I think investors will switch back from PMs to currencies in the mid-term, but I don't think they're right to do so. Investors, in my mind, seem to be far too bullish in recent times. The success of GM's IPO at $35 a share shows this (I actually predicted this level... and I still say it was over-evaluated).
Interest rates will begin to creep up around the globe over the next year, that alone will reverse the demand for PMs
