Gold was steady after three days of gains, supported by the prospect of further monetary easing in the US after a rate cut this week. Silver traded near a record high. Bullion was little changed at around $4,280 an ounce, after climbing 1.2% in the previous session. Federal Reserve policymakers left the door open for more rate cuts next year after cutting the cost of borrowing on Wednesday. Swaps traders are betting on two cuts in 2026, even if the US central bank indicates just one. A lower interest rate environment is a tailwind for non-interest-paying precious metals, including gold and silver. To add further support to gold, the Fed will begin buying $40 billion a month in Treasury bills on Friday as it looks to rebuild reserves in the financial system. Gold is up more than 60% this year and silver has more than doubled, with both metals on track for their best annual performances since 1979. The scorching rallies have been supported by increased central bank purchases and a pullback by investors from sovereign bonds and currencies. Investments in gold-backed exchange-traded funds have risen every month this year except May, according to the World Gold Council. Meanwhile, silver has been boosted in recent weeks by rising demand, as well as tightness and disruptions across major trading hubs. The white metal hit a record high of $64.3120 an ounce on Thursday. Gold was little changed at $4,280.34 an ounce as of 07:30 in Singapore. Silver fell 0.1% to $63.5080. Platinum and palladium fell slightly. The Bloomberg Dollar Spot Index was flat, after closing the previous session down 0.3%. ©2025 Bloomberg LP This article was generated from an automated news agency feed with no text modifications.