After reaching record highs, gold and silver prices fell on Friday.

Spot gold held steady at $2,673.21 per ounce at 0404 GMT, below the previous session's record of $2,685.42 per ounce. American gold futures remained stable at $2,695.80. Kyle Rodda, a financial market analyst at Capital.com, says gold prices are currently supported by early interest rate cuts from the US Fed and stimulus measures from China, both of which are weakening the

Spot silver fell by 0.3% to $31.93 per ounce, after reaching a nearly 12-year peak of $32.71 in the previous session. Silver prices have risen due to strong bullion performance and stimulus measures from China, although some analysts warn that the rally may fade due to concerns about industrial demand

In other metals, platinum fell by 0.6% to $1,001.54 and palladium lost 1.1% to $1,035.75.