Gold hovered near a record high and was set to extend its gains for an eighth consecutive week, helped by safe-haven flows due to concerns over Donald Trump's tariff threats and amid contentious talks as the U.S. President pushes for a quick deal to end the Russia-Ukraine war.

Germany’s stock index futures and the euro both rallied in Asian trading after the country’s opposition leader Friedrich Merz won Sunday’s federal election, matching opinion polls and paving the way for a pivot to increased spending.