OVERVIEW

The purpose of this blog is to share an internal view on metal markets that the Company is involved in directly or indirectly via its partners. This includes information about various sources of supply, different segments of demand, inventory levels and the possible implications for price. Metals, and commodities more broadly, are part of the larger monetary, financial, economic and political order. The metals & markets blog endeavors to connect both the bottom-up fundamentals with the top-down macroeconomic variables. The result is an interesting, unique perspective that focuses on the medium-to-long term. On this page, we will share select articles on a monthly basis produced and curated by the team at Wheaton Precious Metals International Ltd. (“WPMI”).

These articles are for informational purposes only and are not intended, nor should they be used, as investment, securities, tax, financial, legal or other advice. In reading these articles, you agree not to use these articles for these purposes and any decisions you make based on any information contained in these articles are the sole responsibility of you as the reader. These articles are not an offer to sell or a solicitation of an offer to buy any security or investment.

BLOG POSTS

DATE

SUBJECT

4/30/2020

Rising Dollar May Not Be A Problem for Gold

Traditionally the US dollar and gold are inversely correlated to each other. Hence the dollar’s recent, sharp rally is a concerning development for the gold investor. Nevertheless, the gold investor need not be wary as there are exceptions to the traditional, opposing relationship. During periods of intense financial, economic and/or political disorder both rise in concert.

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3/31/2020

Gold Slams in the Time of COVID-19

Gold prices were washed away just as the virus wave hit hard. Why? Gold prices suffered two savage declines of $110 and $180 dollars between February 24 and March 16 despite the exponential advancement of the virus, escalating socioeconomic uncertainty and rapid, deep drops in stock markets.

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2/29/2020

Gold’s More Worried About the Banks’ Drain Than the Fed’s Faucet

Since September 2019, the Federal Reserve has rapidly expanded the size of its balance sheet. Yet despite this seemingly dramatic increase in supply, the United States dollar has appreciated in value. Ostensibly this suggests the market has a high level of faith in America’s central bank. That is not the case.

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1/31/2020

The Gold-Silver Ratio is Indicative of Global Deflation

Is the gold-silver ratio merely a charting curio? Or does it continue to serve in its historic role as a reliable indicator of the global monetary condition? And if the latter, then what do last year’s (nearly) all-time highs augur about the state of the world economy?

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ABOUT WPMI

Wheaton Precious Metals International Ltd. (“WPMI”) is a wholly owned subsidiary of Wheaton Precious Metals Corp. and enters into streaming agreements on mines located outside of Canada. WPMI retains an experienced management team and an independent board of directors. As part of the Wheaton group of companies, WPMI also carries out activities in a number of critical business areas including due diligence, contract compliance, metal sales, corporate social responsibility programs and metals market research.