Gold for June delivery rose $16 to settle at $1,630.10 per ounce. The price had been around $1,670 early in the week before plunging after the Federal Reserve predicted inflation will remain low. Investors often buy gold as a hedge against inflation.
Other metals including silver, copper, platinum and palladium also rose.
In energy trading, natural gas prices fell on concerns about overly abundant supplies. Oil rose after two days of declines, gaining $1.84 to $103.30 per barrel ahead of the long weekend. Economists worry that if oil prices continue to march higher it could derail the economic recovery.
Trading will be closed for Good Friday.