Gold prices rose above $900 an ounce as the dollar fell against the euro.
Investors are also moving to the safety of gold following the recent falls in the equity market from earlier highs while inflationary concerns are also pushing hedgers to gold.
The appeal of the precious metal was also higher due to the jewellery demand in India for the Akshaya Tritya festival, a time when more gold is bought.
Gold for June delivery settled up $14.10 to $906.60 an ounce.
Oil finished slightly higher, just shy of $50 a barrel, benefiting slightly from the weaker dollar.
But that was tempered by a number of economic reports out on Thursday, giving a grim view of the economy, raising concerns about the demand for oil.
