Commodities markets summary
Market watch top headlines
A summary of trading in key commodities markets overseas:
World oil prices slid as traders booked profit from recent rallies amid worries about the struggling eurozone, where Spain's borrowing costs soared dangerously high.
New York's main contract, light sweet crude for August, finished the session on Friday at $91.44 a barrel, down $1.22 from Thursday's closing level.
In London trade, Brent North Sea crude for delivery in September shed 97 cents, settling at $106.83 a barrel.
Gold futures locked in a gain as some investors purchased the hard asset on concerns that rising grain prices would herald a period of higher inflation.
The most actively traded contract, for August delivery, on Friday ended up $US2.40, or 0.2 per cent, at $US1,582.80 per troy ounce on the Comex division of the New York Mercantile Exchange.
Silver futures followed gold's lead, climbing up 8.5 US cents, or 0.3 per cent, to settle at $US27.302 a troy ounce for the September-delivery contract.
By contrast, platinum and palladium prices retreated. Both metals are widely used in car exhaust filters and other industrial applications, and ongoing concerns about that slower global growth would pressure demand continue to weigh on prices.
Nymex platinum fell 0.6 per cent to $US1,414.50 a troy ounce while palladium settled down 1.5 per cent at $US576.10 a troy ounce.
Base metals closed lower on the London Metal Exchange (LME), weighed by concerns over the impact of China's strict control over its housing market and the dollar's strengthing against the euro.
At the PM kerb close on Friday, LME three-month copper was 2.3 per cent lower at $US7,544 a metric ton.
Copper prices retreated as traders considered that the tight Chinese policy will dent demand for the metal as China is the world's largest consumer of copper, accounting for around 40 per cent of global demand.
The industrial metal is primarily made into electrical wires and plumbing pipes, and residential construction is a key application for such goods.
Aluminum has followed copper's slump, with prices more or less right in the middle of its recent range.
Nickel was holding up better than copper and aluminum, but still struggled in the face of slumping prices elsewhere in the complex and a weaker euro.