SSR Mining stock surged over 5% on Wednesday following a weaker-than-expected jobs report from ADP, which cooled Fed rate hike concerns. Lower interest rate expectations boosted precious metals prices, benefiting gold and silver mining stocks. However, the author remains cautious, believing inflation pressures will likely lead to future rate increases that could pressure precious metals prices.
Axe note: Falling US rate hike expectations lifted mining shares, but local investors should watch inflation closely.