Gold prices eased on Tuesday, as a slightly firmer dollar and optimism over a potential ceasefire between Russia and Ukraine dampened investor demand for safe-haven assets. Spot gold was down 0.4% at $3,

The president announced that “Russia and Ukraine will immediately start negotiations toward a Ceasefire and, more importantly, an END to the War.”

Germany is working with allies on a new package of sanctions aimed at pressuring Russia to agree to a ceasefire in its war with Ukraine.

Putin said efforts to end the war were "generally on the right track" and that Moscow was ready to work with Ukraine on a potential peace deal.

The Russian president abruptly canceled plans to meet face-to-face with Zelensky in Turkey last week. President Zelenskyy, left, and Vice President Vance greet each other as Secretary of State Rubio, center, looks on at St. Peter's Square Sunday. AP/Gregorio Borgia

Russia has battered Ukraine overnight with its largest drone attack since the war began, Ukraine’s military said Sunday, as Moscow intensified its military assault despite holding direct peace talks with Kyiv Friday.