Silver Prices Plummet Amid Streaming-Led Decline… 5 Trillion Won Vanished in a Day

Canadian precious metals streaming company Wheaton Precious Metals Corp (WPM) closed at $130.90 on the New York Stock Exchange, down 6.77%. Approximately 1.58 million shares traded, and its market capitalization fell to about $59.4 billion (roughly KRW 80 trillion), erasing around $3.7 billion (about KRW 5.1 trillion) in a single day.

The company has continued to expand its portfolio, recently acquiring a $670 million gold stream on the Spring Valley project in Nevada, U.S., and finalizing a $300 million stream agreement for the Hemlo gold mine in Canada.

After dramatic swings, rising volatility in silver prices and the broader precious metals sector has led the streaming industry to undergo a corresponding correction.

Wheaton Precious Metals is built on a streaming model that forgoes direct mine operations. In exchange for upfront payments, the company secures the right to purchase a fixed percentage of gold and silver production at reduced costs over the long term. This structure delivers leveraged upside when metal prices rise but also makes the company’s earnings and share price highly sensitive to fluctuations in precious metals markets.