U.S. President Donald Trump’s phone calls with the leaders of Russia and Ukraine have deepened expectations that progress might soon be made on ending those countries’ more than three-year war.

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.

President Trump also spoke with Ukrainian leader Volodymyr Zelensky and European leaders in hopes of making progress toward a ceasefire.

After five days of confusion over Russian President Vladimir Putin’s proposal for direct talks with Ukraine, the day they were supposed to begin initially brought only more of the same: a seven-hour stakeout on the banks of the Bosphorus,

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.

Volodymyr Zelensky has said Kyiv will send a delegation led by defence minister Rustem Umerov for direct talks with a Russian team in Istanbul. During a press conference in Ankara following a meeting with Turkish president Recep Tayyip Erdogan,