Why Yamana Gold, U.S. Gold And First Majestic Silver Shares Are Rising - First Majestic Silver (NYSE:AG)

Shares of gold and silver companies, including Yamana Gold Inc (NYSE:AUY), U.S. Gold Corp (NASDAQ:USAU) and First Majestic Silver Corp (NYSE:AG), are trading higher Tuesday as precious metals prices rise amid a surge in oil prices.

Gold is viewed as an inflationary hedge and "safe haven" asset. It has gained amid rising inflation concerns and the ongoing Russia-Ukraine conflict.

President Joe Biden on Tuesday announced the United States is targeting the "main artery of Russia's economy" by banning all imports of Russian oil and energy.

Commodity supply constraints have contributed to the surge in precious metal companies.

Price Action: At time of publication, gold was up 1.96% at $2,040 and silver was 0.6% at $26.26.

Photo: PublicDomainPictures from Pixabay.

AGFirst Majestic Silver Corp

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