Gold rose more than 2 percent and eyed its biggest one-day gain in nearly five months as the US the dollar retreated.
Oil prices climbed about a dollar on Friday, driven in part by concerns about a collapse of the Ukrainian ceasefire and forecasts of unseasonable cold in the Midwest.
The dollar slipped on Friday after a solid but below-expectation October U.S. jobs report.
Asian equities turned mixed in Friday's afternoon session.
Nonfarm payrolls will be the big event on Wall Street on Friday, with stock index futures ticking higher in anticipation.
Stocks rose Thursday, extending records, after upbeat U.S. data and calming words from the ECB.
European shares closed mixed on Thursday, after ECB President Mario Draghi hinted as to the possibility of further aggressive stimulus measures.
Gold edged up slightly as the dollar eased after a sharp rally, but the metal continued to languish near its lowest level since April 2010.
US crude settled about 1 percent lower, but a possible a deal between Iran and world powers offset supply shocks in the Middle East.
The euro plunged to its lowest in more than two years against the dollar on Thursday.
Asia equities were mixed on Thursday as caution over a European Central Bank (ECB) meeting overshadowed record gains on Wall Street.
Wall Street looked set to open lower on Thursday, as caution over the ECB's forthcoming announcement overshadowed record gains on Wednesday.
Stocks rose Wednesday, after elections had the GOP taking control of the Senate and better-than-expected data on the jobs market.
U.S. debt yields rose on Wednesday after the Republican party official took control of the Senate but pared gains after service sector data.
European shares closed sharply higher on Wednesday, as investors learnt that the Republican Party had won control of the U.S. Senate.
Gold sunk below $1,150 per ounce to its lowest since mid-2010, opening the way for a fall to $1,000. Silver fell even harder.
Oil futures spiked Wednesday on unconfirmed rumors of an oil pipeline explosion in Saudi Arabia and data that showed U.S. crude inventories rose less than expected.
The dollar nursed modest losses on Wednesday as investors took some profits on a four-session rally that swept the greenback to multi-year highs.
Asia stocks were under pressure on Wednesday amid concerns over oil and Chinese growth, but Japanese markets continued to outperform the region.
Stocks fell Tuesday as the price of oil slid to a three-year low.
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