Markets stabilized slightly after volatility rose amid the U.S.-China trade war, with gold hitting record highs. US President Donald Trump had earlier threatened to impose 100% tariffs on Chinese goods from November 1 and Beijing said retaliatory measures were possible, but Trump struck a conciliatory tone on Sunday, saying the US did not want to "hurt" China.

Among other things, markets are in uncertainty over the US Federal Reserve's upcoming rate decision. Fed Chairman Jerome Powell will be able to give his guidance on Tuesday when he delivers a speech on the economic outlook at the annual NABE conference.

Other Fed members are also scheduled to speak this week.

Demand for gold - as a safe haven asset remains strong and quotes have been hitting record highs again and again.