Gold prices rose as the precious metal traded above $1,900 an ounce after Russian President "Putin" announced Russia's official recognition of the breakaway regions of Donetsk and Luhansk in Ukraine, increasing geopolitical tensions.
Oil prices rose as Brent crude traded above $97 on Tuesday. The President of the European Commission and the President of the European Council said that the European Union would impose sanctions on Russia.
The US dollar rose against a basket of major currencies, accompanied by a decline in the stock markets, while also the Japanese yen rose against a basket of currencies. The dollar and the Japanese yen are gaining from fears of escalating Russian-Ukrainian geopolitical tensions.
Today, financial markets will follow any developments regarding Russian-Ukrainian geopolitical tensions and how the European Union, the United States , and Britain will react to Russia's move to recognize the breakaway regions of Donetsk and Luhansk.