On Tuesday, gold prices surged to fresh record highs as the dollar remained mostly flat against major currencies amid growing expectations of multiple Federal Reserve interest rate cuts this year.
Earlier government data indicated that US retail sales stabilized in June, while separate data showed that import prices also steadied.
According to the Fedwatch tool, there is a 91.4% chance of a 0.25% interest rate cut by the Federal Reserve at the September meeting, and an 8.4% chance of a 0.5% rate cut.
For the July meeting, there is an overwhelming likelihood (93.3%) that interest rates will remain unchanged.
Elsewhere, the dollar index rose 0.1% to 104.3 as of 18:44 GMT, with a session high of 104.5 and a low of 104.2.
In trading, spot gold prices increased by 1.65%, or $40, to $2468 an ounce as of 18:45 GMT.
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