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Gold hit its highest price in two months on Friday as the U.S. dollar fell and a global flight from emerging market assets pushed global stock markets toward their worst week so far in 2014.

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Gold Advances for Fifth Straight Week

Gold hit its highest price in two months on Friday as the U.S. dollar fell and a global flight from emerging market assets pushed global stock markets toward their worst week so far in 2014.

Gold Advances for Fifth Straight Week (Reuters)

Gold hit its highest price in two months on Friday as the U.S. dollar fell and a global flight from emerging market assets pushed global stock markets toward their worst week so far in 2014. The U.S. dollar remained wobbly after registering its biggest one-day drop in three months on Thursday, setting bullion on course to post a fifth week of gains. Spot gold was up 0.3 percent at $1,267.50 an ounce at 1431 GMT, slipping slightly after reaching $1,272.70, its highest since mid-November. U.S. gold futures for February delivery gained 0.4 percent to $1,267.00. Gold is on track to record a fifth straight weekly gain for the first time since September 2012. But investors still are wary of a market that took its biggest fall in more than 30 years in 2013.

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Written By

Paul Dykewicz is the editorial director of the Financial Publications Group at Eagle Publishing Inc., www.eaglepub.com, of Washington, D.C. Eagle publishes five free, e-letters, 10 weekly trading services and five monthly investment newsletters, Forecasts & Strategies, Successful Investing, Cash Machine, Growth & Dividend Report and The Alpha Investor Letter. He also is the editor of Eagle Daily Investor and the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain."

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archive

Gold Advances for Fifth Straight Week

Gold Advances for Fifth Straight Week (Reuters)

Gold hit its highest price in two months on Friday as the U.S. dollar fell and a global flight from emerging market assets pushed global stock markets toward their worst week so far in 2014. The U.S. dollar remained wobbly after registering its biggest one-day drop in three months on Thursday, setting bullion on course to post a fifth week of gains. Spot gold was up 0.3 percent at $1,267.50 an ounce at 1431 GMT, slipping slightly after reaching $1,272.70, its highest since mid-November. U.S. gold futures for February delivery gained 0.4 percent to $1,267.00. Gold is on track to record a fifth straight weekly gain for the first time since September 2012. But investors still are wary of a market that took its biggest fall in more than 30 years in 2013.

Newsletter Signup.

Sign up to the Human Events newsletter

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