NEW YORK, January 1, 2026, 18:11 ET — Market closed
- Wheaton Precious Metals (WPM) last closed down 1.2% at $117.52 in the year’s final session. 1
- U.S. stock markets are closed on Thursday for New Year’s Day. 2
- Gold rose 66% and silver gained 161% in 2025, leaving bullion-linked stocks sensitive to early-2026 macro signals. 3
Wheaton Precious Metals Corp shares (WPM) last closed down 1.2% at $117.52 on Wednesday, with U.S. markets shut on Thursday for New Year’s Day. 1
The late-year dip followed profit-taking across precious metals after a standout 2025, when gold climbed 66% and silver gained 161%, Reuters reported. 3
That matters for Wheaton because it is a precious-metals streamer: it finances mines in exchange for the right to buy a portion of production at preset prices, tying results closely to swings in gold and silver.
Gold prices softened into the year-end close, with spot gold around $4,319.82 an ounce on Dec. 31, down about 0.4% on the day, Trading Economics data showed. 4
In Canada, mining stocks dragged on the TSX in the final session of 2025 as gold and silver prices slipped, and the materials and gold sub-indexes both fell 0.5%, Reuters reported. 5
“Demand for metals is looking solid from both an industrial and retail perspective,” Tim Waterer, chief market analyst at KCM Trade, said, adding that “the key fundamental drivers … remain intact.” 3
A lower-rate backdrop is central to that thesis. Gold is often supported when rates fall because it reduces the opportunity cost of holding non-yielding assets, and Wheaton’s streaming model can magnify the effect on cash generation when bullion rises. 6
Wheaton’s closest listed peers moved in step with the sector: Franco-Nevada (FNV) was down 0.5% and Royal Gold (RGLD) fell 1.2% in the latest session, according to market data.
Macro signals remain the near-term catalyst. The Federal Reserve next meets on Jan. 27-28, after minutes from its December meeting underscored debate over the outlook, Reuters reported. 6
Before the next session, traders will watch whether bullion extends its year-end consolidation when U.S. markets reopen on Friday. 7
The first scheduled data flashpoint is the U.S. employment report on Jan. 9, a release that can quickly move Treasury yields and the dollar—two key drivers for gold-linked equities. 8
On the chart, Wheaton remains above its 50-day moving average near $106.73 and 200-day average near $95.43, levels traders use as a quick read on short- and long-term trend, Barchart data showed. 9
The stock also sits within reach of a 52-week high of $124.30 after gaining about 110% over the past year, leaving investors alert for any shift in the metal cycle early in 2026. 10
