My guess is that bling demand (aka jewerly) would decline as price goes up, and would rebound as price decline.
For electronics, I think demand will be kind of flat as less is used per device (natural progression of technology). And I think recycling of electronic equipement will provide ever increasing amounts (as it should for every metal, because they are all scarce)
I think PM price, and demand, are all about financial and political uncertainty.
my thoughts anyway (and I went long some PM this week)