Gold closes above $1 300 for first time this year on dollar, Fed

Gold futures closed above $1 300/oz for the first time since November as the dollar dropped and speculation mounted that policy makers will be slow to raise US interest rates. Futures for delivery in December rose 1.3% to settle at $1 315.30 at 1:42 pm on the Comex in New York. The Bloomberg Dollar Spot Index slipped 0.1%. While gold has risen above $1 300 in intraday trading this year, it had not managed to close above that threshold since November.