Gold futures gained in electronic trading at Comex division of New York Mercantile Exchange as the riots and political unrest escalates in Libya. Gold futures contract for February delivery moved up 0.1 percent to $1,415 per ounce on Thursday’s Asian trading session.

The crisis and clashes of public with government in Libya has made investors to shift their focus towards risk free and safe haven investments. The future direction of gold and oil heavily depends upon how current and current situation and political turmoil in Libya settles down. Most of the analysts believe that if the current Libyan ruler Gadhafi leaves, then a sudden decline in commodities especially gold and oil markets could be seen which are widely considered as risk free investments now.

Silver also gained as its future contract for March delivery soared 1.1 percent to $33.67 per ounce in overnight trading. Platinum remained bullish too as its future contract for the April delivery advanced 1.2 percent of $20.60 to $1,797.30 per ounce in Asian electronic trading session of NYMEX.

Light sweet crude oil’s future contract for April delivery jumped advanced $1.38 to $99.47 in the start of the Asian trading session of New York Mercantile Exchange. It was widely expected that the oil future contract will break its resistance level of $100 per barrel.

Many analysts are of the opinion that trading in gold and oil markets could be very risky at current levels as most of the contracts are near their resistance levels for the short term.