Tuesday's small increase in gold prices kept them near the highest level touched in six months as speculation that the Fed will not hike interest rates further grew.

Spot gold steadied at $2,015.57 per ounce, meanwhile gold futures added  0.2% to $2,015.35 per ounce.

Demand for the yellow metal as a safe haven was especially buoyant this week due to expectations of a plethora of economic data, as investors awaited further indications of slowing U.S. economic growth and a stalled Chinese comeback.

In overnight trading, the dollar fell to three-month lows, supporting the price of gold and other metals as investors bet against further Fed rate hikes. However, in Asian trading, the dollar somewhat stabilized, and this week will also bring additional Fed indications.

Any indications of a slowing of the US economy reduce the Fed's ability to keep interest rates higher for longer, which is good news for gold prices. Safe haven flows into the metal are also anticipated to be fueled by worries about the state of the world economy getting worse.