Wednesday saw little change in gold prices, holding onto the majority of recent gains as safe haven demand was maintained by worries over a euro zone recession in the wake of several dismal economic data points.

Spot gold edged up by 0.1% to $1,972.51 per ounce, meanwhile gold futures slumped by 0.2% to $1,983.15 per ounce

Persistent concerns about rising U.S. interest rates hindered any significant increases in gold, particularly in light of statistics released on Tuesday indicating an improvement in local business activity in October. Overnight trading saw the currency strengthen while Treasury yields stabilized following previous declines.

The demand for gold as a safe haven decreased this week as Israel postponed a planned ground invasion of Gaza and there were some indications that the situation between Israel and Hamas was deescalating.

However, poor purchasing managers index data from the euro zone, which sparked worries about a possible recession in the area, slightly offset this. The largest economy in Europe, Germany, had already experienced a recession this year.

The $2,000 per ounce level of gold was still in sight, but it was unclear if it would accomplish so in the immediate future—especially with multiple additional U.S. economic indicators coming this week.