Why SSR Mining Stock Flopped on Friday
Gold and silver slumped notably on the day.
Overview
Hardly for the first time in recent trading sessions, the prices of gold and silver were sliding on Friday. That didn't bode well for any company involved in either, and SSR Mining (NASDAQ: SSRM) mines and produces both. The last trading day of the week saw the company's stock decrease by more than 4%.
Precious metals were taking it on the chin largely because of comments made by Federal Reserve (Fed) chair Kevin Warsh. Although he tends to be circumspect, like many central bank heads, his utterances on Friday at the annual Jackson Hole Economic Symposium suggest a hawkish approach to fighting inflation.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.