Gold steadied around $2,020 an ounce on Wednesday, hovering near its highest levels in a year as weak US data fueled expectations that the Federal Reserve may not need to tighten further in the coming months to prevent a recession. Fresh data showed that US job openings, a measure of labor demand, fell below 10 million for the first time since 2021 in February. US factory orders also declined further in February, suggesting that the economy could be cooling amid higher interest rates. Markets now see a greater probability the Fed will leave the fed funds rate steady next month. The recent banking crisis has also led to a surge in demand for safe-haven assets.