Gold prices held steady today, buoyed by weak private payrolls data that reinforced expectations of a U.S. interest rate cut next week, while silver hit a fresh record high.

Spot gold was little changed at $4,202.06 an ounce by 2:03 p.m. ET (9:03 A.M. Hawaii time), after hitting a session high of $4,241.29 earlier in the session.

U.S. gold futures for February delivery settled 0.3% higher at $4,232.50.

Silver steadied after touching a record high of $58.98 earlier in the session.

“This morning’s miss on ADP data, combined with silver hitting all-time highs overnight,” is supportive for gold, said RJO Futures senior market strategist Bob Haberkorn.

“Gold is following silver at the moment, with silver pulling back a little bit here.”

U.S. private payrolls fell by 32,000 jobs in Novembe

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