Gold and other precious metals recouped some of their recent losses Thursday, as bargain-hunting and short-covering were encouraged by the oil market's stronger tone.
Some short sellers also may have been squaring positions ahead of Friday's U.S. monthly jobs report, which can impact the dollar and, thus, the direction of metals.
December gold futures rose $8.80 to finish at $575.50 a troy ounce on the New York Mercantile Exchange. December silver added 27.5 cents to close at $11.07 an ounce.
Several traders and analysts said there was position-squaring and profit-taking by shorts after December gold had fallen $36.60, or 6.1 percent, over the last two sessions and December silver had slid 84.5 cents, or 7.3 percent.
"The gold market was hit really hard lately," said Mike Zarembski, futures analyst with Xpresstrade. "The market was ripe for some profit-taking, especially ahead of tomorrow's (U.S. non-farm payrolls) report.
"There may have been a little bargain hunting going on too. Physical demand for gold has been pretty good, especially on this sell-off."
There have been reports of improved physical demand ahead of the holiday season in India and also ahead of the approaching Christmas holiday in the Western world.
Funds had been liquidating long positions for some time now in both gold and silver.
"They're still net long, but not nearly to the extent they were several months ago," said Zarembski. "That is probably a little bit supportive, because if the markets get any kind of rebound here, they (funds) can get back in with fresh money and maybe pull prices back up to $580 to $585."
Meanwhile, January platinum rose $3.80 to settle at $1,086.20 an ounce. December palladium gained $4.50 to finish at $301.15 an ounce.
December copper futures rose 9.45 cents to settle at $3.30 per pound.
In energy trading on the Nymex, crude oil futures rose amid reports the Organization of Petroleum Exporting Countries, or OPEC, will implement production cuts to buoy prices.
Prices rose sharply in early trade after an OPEC official said the producer group would cut 1 million barrels of oil production a day, but later conflicting reports about OPEC's intentions curbed crude's gains and brought on choppy trading.
The front-month November light, sweet crude contract settled 62 cents, or 1 percent, higher at $60.03 a barrel after earlier trading as high as $60.97 a barrel.
November heating oil rose 1.5 cents to finish at $1.692 a gallon. Front-month November unleaded gasoline finished 1.87 cents stronger at $1.5165 a gallon.
Natural gas futures for November delivery rose 30.3 cents to close at $6.298 per million British thermal units.
In other commodities trading on the New York Board of Trade, December cocoa futures jumped $27 to finish at $1,475 per ton, after hitting a one-week high of $1,491 per ton earlier in the session.
Cocoa futures were helped by strength seen in outside commodity markets, as well as technical influences that sparked speculative fund buying.
Futures on raw sugar in foreign ports ended mixed, with the March contracts settling 0.02 cents lower at 11.14 cents a pound.
Arabica coffee futures ended slightly firmer, with the December contracts closing 0.05 cents higher at $1.0450 a pound and March gaining 0.10 cent to settle at $1.0845 a pound.
Kraft Foods Thursday raised the price of Maxwell House ground coffee 2 cents per 11 ounces to 13 ounces, and lifted instant coffee prices by 3 cents an ounce.
Cotton futures slid amid speculative sales, and the most-active December contract finished 0.47 cents lower at 49.69 cents per pound.
On the Chicago Board of Trade, soybean futures ended higher with help from speculative buying.
November soybeans finished 10.25 cents higher at $5.6550 a bushel. December soymeal settled $2.50 higher at $169.60 per short ton, while December soyoil ended 0.26 cents higher at 24.06 cents a pound.
However, corn futures ended lower in active trading as profit-taking and fund selling weighed on the market.
December corn settled 2.5 cents lower at $2.7175 per bushel, and March fell 4.25 cents to $2.8325 a bushel.
Wheat futures ended mixed, with Chicago Board of Trade wheat falling from new contract highs as a flurry of profit-taking pressured the market late in the session.
December CBOT wheat ended 1 cent lower at $4.64 a bushel, and Kansas City Board of Trade December wheat settled a half-cent higher at $5.0450 a bushel.