Why SSR Mining Stock Got Knocked Today
This wasn't much of a surprise, given the recent price trajectories of gold and silver.
Why SSR Mining Stock Got Knocked Today
Overview
Gold and silver are eternally attractive metals, but lately they haven't been ideal investments. On recent declines in the prices of the two, SSR Mining (NASDAQ: SSRM) -- which mines both metals -- saw its stock price decrease by more than 3% on Tuesday.
The rout in precious metals started last Friday, just after the federal government's Bureau of Labor Statistics released its latest monthly employment report. The striking feature of this digest was the 172,000 new jobs created in May, far higher than the consensus estimate of 80,000. Immediately, and understandably, this led to widespread speculation that the Federal Reserve is more likely to raise than cut interest rates in the near future.
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Originally published at www.fool.com.
