As gold prices tumbled during Friday's trading session, precious metals companies were dragged down too, including Goldcorp (NYSE:GG) and the gold ETF, the SPDR Gold Trust (NYSEMKT:GLD). Given its recent increase in exposure to gold, Silver Wheaton's (NYSE:WPM) inability to escape the slide is not a big surprise. Despite increased signs of global economic instability, gold fell below $1500 for the first time since July 2011.

In the below video, Fool.com contributor Doug Ehrman discusses the impact of gold prices on the stock, both in the immediate-term and longer-term investment perspective. Silver Wheaton remains one of the strongest plays in the silver market, but recent price action should not be overlooked.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.