Gold steadied near two-and-a-half-week highs on Wednesday, losing momentum due to profit taking following a rally in the previous session on U.S. data that weakened the case for a U.S. rate rise soon.

U.S. services sector activity slowed to a 6-1/2-year low in August amid sharp drops in production and orders, pointing to slowing economic growth that further diminished prospects for a near-term interest rate increase.The U.S. non-manufacturing new orders index for August fell to its lowest since December 2013.

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Spot Gold was down 0.2% at $1,367.93 per ounce by 1008 GMT. The metal touched a high of $1,352.65, its best since Aug. 19 and is up about 1.7 percent so far this week.
                      U.S. Gold futures were barely changed at $1,354 per ounce.

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 1.52 %, its biggest one-day gain since July 5, to 952.14 tonnes on Tuesday from 937.89 tonnes on Friday.