While the dollar relaxed after weak U.S. economic data fueled expectations that the Federal Reserve could ease its monetary policy trajectory, the gold price remained close to the records reached in 2020 and rose held above the key level of $2,000 on Wednesday.

U.S. gold futures remained stable at $2,037.20, while spot gold held steady at $2,020.39 per ounce at 01:23 GMT. After a new set of weaker U.S. economic data indicated a slowdown in the economy and strengthened expectations of a less aggressive policy from the Fed, the gold price rose by 2% to its highest level in more than a year on Tuesday.

Palladium rose slightly by 0.1% to $1,458.51, platinum was up 0.2% to $1,020.47, and cash fell by 0.1% to $24.99 per ounce.