Gold Steady Near Record High as Traders Digest Fed Rate Views

Gold steadied near its record high, trading around $2,720 per ounce after an earlier rise, as traders weighed contrasting Federal Reserve views on interest rate cuts. Kansas City Fed President Jeffrey Schmid advocates for a slower pace of cuts, while San Francisco's Mary Daly supports further reductions to protect the labor market. This divergence adds uncertainty to the market outlook for gold, which remains sensitive to US monetary policy changes.