Key Highlights

● Wheaton fell on Friday, October 30, 2026, with precious-metals stocks.

● Silver slumped and gold hit a 52-week low.

● Mounting expectations of a December Fed rate hike weighed on metals.

● No company-specific news was found.

Shares of Wheaton Precious Metals (NYSE:WPM) fell on Friday, October 30, 2026, as a slump in silver and a slide in gold to a 52-week low hammered precious-metals stocks. The Vancouver-based company moved with the sector, according to market data, and no company-specific news was found to explain the decline.

Wheaton is a streaming company rather than a traditional miner. It pays Mining companies upfront in exchange for the right to buy a share of their future silver, gold and other metal output at fixed, low prices. That model insulates it from some mining costs but leaves its Revenue and its share price highly sensitive to the prices of silver and gold.

Silver's sharp drop

Silver fell steeply on Friday, trading around $49.14 to $49.28 an ounce. Gold also tumbled: December futures fell $132.50 to settle at $3,898.90, a 52-week low and well below the metal's January record of $5,595, according to market data.

The selloff in metals was driven by a repricing of interest-rate expectations. Fed-hike fears, firm oil prices and Inflation worries pushed gold to a one-year low and silver sharply lower, according to market data. Because gold and silver pay no interest, higher rates make them less attractive compared with bonds and cash. The dollar index slipped to 101.92 on Friday, so the metals' slide came despite a softer dollar.

The Fed's hawkish tilt

CME FedWatch data showed traders treating a December rate increase as likely. The Federal Reserve left its benchmark rate range unchanged at its Oct. 27-28 meeting, but Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented in favor of a hike. Chair Kevin Warsh said: "But inflation remains elevated."

Three Fed officials argued on Friday that rates need to move higher. St. Louis Fed President Alberto Musalem said: "I judge that additional firming of Monetary Policy will be necessary, and soon." Richmond Fed President Tom Barkin said: "I think the question though is pace."

Inflation data have supported that view. Thursday's report showed core PCE inflation at its highest since May, and the economy grew at its fastest pace in a year in the third quarter.

A broad metals retreat

Wheaton's fellow precious-metals stocks fell too. Agnico Eagle Mines (NYSE:AEM) and Newmont (NYSE:NEM) declined with gold, and silver producers Hecla Mining (NYSE:HL), Coeur Mining (NYSE:CDE), Endeavour Silver (NYSE:EXK) and Silvercorp Metals slid with silver, all without company-specific news, according to market reports. Copper also fell, to $6.51 a pound.

The broader market was in retreat. The S&P 500 fell 140.32 points to 7,580.07, the Dow Jones Industrial Average lost 572.25 points to 51,770.31 and the Nasdaq Composite dropped 747.73 points to 25,437.00, its worst session since June, after Intel (NASDAQ:INTC)'s cash-burn warning set off a global chip selloff. Bitcoin, sometimes compared with gold as an alternative asset, slid to a six-week low after a reported $6.3 billion hack at Binance.

What to watch

Silver and gold prices will remain the main drivers for Wheaton's shares. Investors will watch whether the metals can stabilize after Friday's slump and whether expectations for a December Fed hike firm or fade.

Next week's ISM purchasing managers' surveys and the October jobs report on Friday, Nov. 6, could shift those expectations. The midterm elections on Tuesday, Nov. 3, and developments around Iran and oil prices may also affect Demand for precious metals.