Gold prices rise, ignoring the US dollar's gain against a basket of currencies amid increasing concerns over inflation and Russian-Ukrainian geopolitical tensions.
Oil prices rise, with Brent crude contracts trading above $106 per barrel, accompanied by fears of tight market supply.
The performance of European stock indices varied, while US stock indices are edging a bit higher. Traders are a bit cautious due to fears of fresh sanctions being levied on Russia.
The US dollar is higher against a basket of major currencies on expectations that the Fed will raise interest rates by 50 basis points next month. The US bond yield curve is closely watched, and according to Reuters, the inversion of the yield curve has fuelled fears of a recession.