Gold Bursts Above $1,300 as Slowdown Tremors Spur New Year Rally::

Gold advanced above $1,300 an ounce to extend a new year rally. Investors flocked to the metal with global equities in retreat, signs of a slowdown stacking up, and the oldest of havens showing its mettle as exchange-traded funds draw in increased flows.

Futures gained as much as 0.4 percent to $1,300.40 an ounce on the Comex, the highest price since June, and were at $1,299.60 at 9:37 a.m. in Singapore. Spot prices were not far behind, hitting as much as $1,298.60. The sustained U.S. government shutdown has also spurred a risk-off mood.

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