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.
Wall Street looked set for a higher open on Wednesday, after the Republican Party took control of the Senate.
Treasury yields fell on a gloomier outlook for the European economy and four-year lows for oil prices, boosting demand for U.S. government bonds.
European stock indexes accelerated losses to close lower on Tuesday, after seesawing during the trading session.
Spot gold rose, boosted by a drop in the dollar index and expectations of Asian physical demand following bullion's tumble to a four-year low.
Oil dived more than 3 percent on Tuesday to multi-year lows, as Saudi Arabia's sharp cut in export prices to the U.S. looked likely to deepen a supply glut.
The euro rallied on Tuesday on a report citing internal tensions within the European Central Bank over the leadership of its chief, Mario Draghi.
Asia equities were mixed on Tuesday with Japan's benchmark index outperforming the region and leaping to fresh seven-year highs.
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Oil rig counts in the U.S. rose for the first time since December 2014 last week, which could impact year-end price targets.
Japan's economy is barely growing, its population is falling and wages are stagnant, but investors see big opportunities in its property market.
Don't expect Greek banks to reopen before around July 20, said Athens Chamber of Commerce and Industry's Constantine Michalos.