Gold, Silver Prices Rise on Demand for Haven, Inflation Hedge

March 9 (Bloomberg) - Gold and silver rose for the Third time in four sessions as mounting tension in Libya and Higher energy costs boosted demand for precious metals as an investment haven and an inflation hedge.

Muammar al-Qaddafi has stepped up attacks in western Libya Towns That have Risen against him. Crude oil in New York gained as much as 0.9 Percent before easing. Gold climbed to a record of $ 1,445.70 an ounce on March 7

"The sentiment is just positive for gold and silver," said Adam Klopfenstein, a senior strategic market at Lind-Waldock in Chicago. "People Want To Have That fear premium. There's a flight-to-quality for gold and fear in the back-drop That Higher Oil Prices are inflationary. "

Gold for April delivery rose $ 2.80, or 0.2 Percent, to $ 1.430 at 11:55 am on the Comex in New York. Before today, the price gained 27 Percent in the past year.