Gold prices jumped on the Comex division of the New York Mercantile Exchange Friday, adding $47.40 to settle at $1,597.80 per troy ounce.
Silver gained $1.17 and closed at $27.46 per troy ounce.
Commodities prices bounced higher along with equities on Wall Street after heads of state in Europe announced several major policy agreements meant bring financial stability to the troubled eurozone
The dollar index dropped sharply, declining 1.34 percent to 81.59 on the Intentional Exchange, making commodities priced in U.S. dollars more attractive to foreign investors.
The euro climbed to $1.2664 from Thursday's $1.2444. Against the yen, the dollar rose to 79.80 yen from 79.46 yen.
The British pound rose to $1.5705 from $1.5518. The dollar fell to 1.0165 Canadian dollars from 1.0332 Canadian.
Against major currencies in Europe and Asia the dollar was down with the exception of the yen and the Argentine peso.