Gold topped $1,300 an ounce today for the first time since August as stagnating world economies drive demand for haven assets. Policy makers in Europe and Asia are being challenged to come up with new ways to spur growth amid prolonged below-target inflation.
Bullion for immediate delivery dropped 0.6 percent to $1,288.04 at 10:17 a.m. in New York, according to Bloomberg generic pricing. Prices earlier touched $1,305.25, the highest since Aug. 15.