Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated, after Moscow indicated it was returning some troops to base, thereby relieving the investors.
Gold was flat on Wednesday, after hitting an eight-month high in volatile trade last session, as easing Russia-Ukraine tensions countered support from weaker bond yields.
Oil prices recovered losses on Wednesday after slipping over 3% in the previous session, as investors gauge easing of Russia-Ukraine tension against tight global supplies and recovering fuel demand.
Europe is faced with one of its most dangerous crises in decades and there is an urgent need to defuse the tensions regarding Ukraine and prevent a possible war, the German leader stressed.
For the second day Tuesday, there were signs of hope that Europe might avoid war following weeks of escalating East-West tensions
But beyond the Ukraine tension, the oil market remains tight and prices are still on course for a move towards $100 a barrel, analysts said
Indian rupee rose for the first time in six days, with some de-escalation at Ukrainian border. But India's delayed policy normalisation and inflation may support dollar bulls over the next 3 months
What does soaring crude oil price mean for the economy? What is Azad Moopen's expansion plans for Aster? How will the Russia-Ukraine crisis, US Fed affect rupee? What is P2P network? All answers here
The UN Office for the Coordination of Humanitarian Affairs (OCHA) said it focuses on the need and protection of the 2.9 million people along the "contact line" in Donetsk and Luhansk
The tension between world powers over the Ukraine situation, which has developed into one of the deepest crises in East-West relations for decades, has been front-and-centre of investors' minds.
In a nationally televised speech, Biden said the United States estimates that 150,000 Russian troops now encircle Ukraine, a higher number than previous estimates of about 100,000
Moscow, for its part, has repeatedly denied any intention to invade, accusing Washington of "hysteria".
Spot gold was down 0.1% at $1,850.91 per ounce, as of 0110 GMT. U.S. gold futures dropped 0.2% to $1,852.40
He said he told Russian President Vladimir Putin during their phone call on Saturday that the US is willing to 'keep pursuing high-level diplomacy' to negotiate 'written understandings' with Russia
Stating that any such move by Russian President Vladimir Putin will prove to be a 'self-inflicted wound', Biden warned Moscow that the US and its allies will respond 'decisively'
U.S. gold futures settled down 0.7% at $1,856.20.
Biden, in nationally televised remarks, also said reports that some Russian forces have moved away from the Ukraine border have not yet been verified by the United States.
The latest Russia-Ukraine development drew a cautious response from Ukraine and Britain, after days of U.S. and British warnings that Moscow might invade its neighbor at any time.
President Biden acknowledged reports on Tuesday that Russia has ordered the partial withdrawal of its troops near Ukraine's borders, but stressed that the US has "not yet verified" the Kremlin's claim
At least 10 Ukrainian websites were unreachable due to the attacks