Gold rose towards the key $1,300-an-ounce level, as the U.S. dollar fell and as assets of the top bullion fund climbed to a two year peak.
Crude prices fell on Monday as data showing higher Middle East oil production and record hedge fund buying sparked profit-taking.
The dollar recovered slightly on Monday from its biggest weekly fall in more than seven years against the yen.
U.S. stocks closed lower as health care stocks weighed, but the major averages pared losses significantly for the Dow and S&P to post monthly gains.
Asia markets took "sell in May" sentiment to heart on Monday, with Japan's benchmark index tumbling over 3 percent and Australia banks selling off.
U.S. government debt prices were lower on Friday, as investors looked to the release of several pieces of data.
European equities finished the last trading day of the month sharply lower, as a raft of disappointing earnings dragged stocks deep into the red.
Asia markets were mostly lower on Friday, as investors digested major central banks' decisions to stand pat on their monetary policies.
The yen built further on a round of strong gains since the Bank of Japan meeting, moving to an 18-month high against the dollar.
Gold hit a seven-week peak and silver its highest since January last year as a BoJ decision to hold off further stimulus weighed on stocks.
U.S. oil dipped after an early rise to 2016 peaks, but posted a gain of about 20 percent for April.
U.S. stocks closed about 1 percent lower or more Thursday, as fresh declines in Apple weighed on the major averages.
U.S. government debt prices were mixed on Thursday, as investors eyed the release of important data.
European stocks finished mixed on Thursday as markets eyed the rebound in oil prices, after digesting earnings and the latest central bank decisions.
The yen rallied sharply and stocks tumbled Thursday after the BOJ kept monetary policy steady policy steady at a scheduled meeting.
Stocks were showing a broadly higher open amid subdued trading in Asia and Europe and ahead of the key nonfarm payrolls data.
U.S. stock index futures pointed to a flat to slightly lower open on Friday morning, following hefty losses on Thursday, as traders eyed earnings and data.
The dollar pared losses against the yen, but was still on track to notch its biggest daily loss against the Japanese currency in eight months.
Gold rose as the BOJ held off from expanding stimulus and the Fed signaled it was in no rush to tighten.
U.S. West Texas Intermediate (WTI) futures settled at $46.03, up 1.5 percent, or 70 cents, marking its highest level since Nov. 4.