Gold Closes Above $1,300 for First Time This Year
- Bullion futures up 14% this year as Fed goes slow on rates
- Dollar weakness is seen helping to bolster the precious metal
Morse Says Half of Gold's Rally Attributed to N. Korea
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Gold futures closed above $1,300 an ounce for the first time since November as the dollar dropped and speculation mounted that policy makers will be slow to raise U.S. interest rates.
Futures for delivery in December rose 1.3 percent to settle at $1,315.30 at 1:42 p.m. on the Comex in New York. The Bloomberg Dollar Spot Index slipped 0.1 percent. While gold has risen above $1,300 in intraday trading this year, it had not managed to close above that threshold since November.