Gold finished Thursday with strong gains as investors moved to safe-haven type buying despite a stronger dollar.
A stronger dollar normally weighs on gold but in recent sessions the two have decoupled as investors move to quality, benefiting both the dollar and precious metal.
Poor demand from countries that traditionally buy more jewellery, such as India, Middle East and China has worried investors.
The Bombay Bullion Association said on Thursday that India's gold exports slumped over 90% to 1.2 tonnes in January due to high prices and a backlog of stock.
U.S. gold futures for April delivery settled up $16.50 at $906.50 an ounce.
Oil prices fell as a poor housing market indicates demand will continue to be low. Sales of new homes fell to their lowest level on record in December, according to the Census Bureau.
Crude for March delivery ended the day down 72 cents to settle at $41.44 a barrel.
