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.

Paul Dykewicz

Paul Dykewicz is the editor of StockInvestor.com and the editorial director of Eagle Financial Publications in Washington, D.C. He writes and edits for the website, as well as edits investment newsletters, time-sensitive trading alerts and other reports published by Eagle. He also is an accomplished, award-winning journalist who has written for Dow Jones, USA Today and other publications, as well as served as business editor of a daily newspaper in Baltimore. In addition, Paul is the author of the inspirational book, "Holy Smokes! Golden Guidance from Notre Dame's Championship Chaplain." He received his MBA in finance from Johns Hopkins University, where he was a two-time president of the school's Finance Club. In addition, Paul has a bachelor's degree from the University of Michigan and a master's degree in journalism from Michigan State University. Outside of work, Paul volunteers with a faith-based organization to assist the poor in Southeast Washington, D.C., to learn personal finance skills to lift themselves out of debt.