Gold Rose For a Fourth Session In a Raw

Gold climbed for a fourth consecutive session on speculation slowing U.S. economic growth and quickening inflation will spur investor demand for the metal as an alternative to U.S. stocks and bonds.

"Gold is well-placed to rally, particularly with the U.S. economy seeing not only trouble in the housing market but also inflation,'' said James Moore, an analyst at London-based TheBullionDesk.com.

Gold for immediate delivery rose $1 to $654.40 an ounce at 10:48 a.m. in London. Prices are up 1.6 percent since March 13.