Commodities prices have correlated strongly with equities in recent weeks, as the buck and Treasurys lured spooked investors from stocks and commodities. Markets are afraid that a weak economy will curb demand for raw materials needed for industry and consumer goods.
But Wall Street finished its week up sharply, in its biggest five-day rally in more than 75 years. The Dow Jones industrials and the Standard & Poor's 500 index finished higher for the fifth straight session. It was the Dow's first five-day streak of gains since July 2007.
Gold for February delivery rose $7.70 to settle at $819 an ounce on the New York Mercantile Exchange.
Other precious metal prices dropped. March silver fell 3.9 cents to $10.250 an ounce, while March copper futures fell 4.2 cents to $1.6495 a pound.
Energy prices were almost unchanged on the Nymex ahead of an OPEC meeting Saturday that could result in a production cut.
Light, sweet crude for January delivery settled down a penny at $54.43.
In other Nymex trading, gasoline futures for January rose less than a penny to settle at $1.2096, heating oil dropped 3.335 cents to $1.7271 a gallon while natural gas for January delivery fell 36.8 cents to settle at $6.51 per 1,000 cubic feet.
Grain prices were mixed on the Chicago Board of Trade.
March wheat futures gained 7.25 cents to $5.61 a bushel, while corn for March delivery shed 5.3 cents to $3.66 a bushel.
January soybeans dropped 3 cents to $8.83 a bushel.