Silver Wheaton (SLW) Soars on Friday

Shares of Silver wheaton (NYSE:SLW) rebounded on Friday as concerns over the faltering European Union and its sovereign debt crisis pushed silver and gold prices up as investors fled to safety.

Silver closed at $35.16, up 0.6 percent, but down by about 30 percent since a record high on April 28 of $49.51.

June gold closed on Friday at $1,508.90 an ounce, up $16.50, trading in a range of $1,486.40 and $1,515.80.

For the Week gold was up by about 1.15 percent, but still down 4 percent from the all-time high of $1,575 an ounce reached in the early part of May.

Silver Wheaton Corp. operates as a silver streaming company around the world. It generates revenue from royalty deals.

Silver wheaton (SLW) closed Friday at $35.08, up $0.38, or 1.10 percent. It has a market cap of $12.39 billion.