European and U.S. stock markets mostly fell Thursday as investors awaited a speech from the Federal Reserve chairman that is expected to give more clarity on what the central bank is planning to do to prop up the ailing U.S. economy.
However, the prospect of more dollars floating around the system continued to pile the pressure on the currency itself.
Spot gold rose to a fresh all-time high on Thursday, riding on the back of a weaker dollar, as investors expect more monetary easing from the Federal Reserve to jump start the economy.
* Spot gold XAU= rose to a fresh all-time high at
$1,376.95 an ounce, and eased to $1,375.65 by 0035 GMT
* U.S. gold futures for December delivery GCZ0 also hit a
new record high at $1,377.9.
* The dollar fell to its lowest against a basket of
currencies in nine months on Thursday, supporting the rally in
* Spot gold XAU= is expected to rally towards $1,404 per
ounce as it has climbed above a consolidation range between
$1,324.85 and $1,364, said Wang Tao, a Reuters market