Forget Buying Gold Directly: Wheaton Precious Metals Could Be the Better Play.

Wheaton Precious Metals (WPM) has outperformed gold in 2026, gaining 13.4% compared to modest gold ETF gains. The company operates a unique streaming model where it purchases a percentage of mine output rather than mining directly, resulting in lower costs and higher operating margins. With record earnings in H1 2026 and forecasted 50% production growth by 2030, WPM offers a middle-ground alternative between direct gold ownership and traditional mining stocks, with less volatility than pure-play miners.