Jul. 28 at 1:23 PM
Wheaton
$WPM is up 8.3% over five days while silver has dropped 2.5%, a split worth attention. Gold near
$4,042 is holding the sovereign-risk bid, and a royalty structure lets WPM ride the metal without absorbing the cost pressures hitting producers directly. The risk is that silver's underperformance is the leading edge of a broader precious-metals unwind, which closes the gap from the WPM side rather than the silver side.
