Precious metals rose Friday as a fresh drop in the dollar and speculation that crude oil's plunge may soon end fed safe-haven buying of gold, silver and copper.

Other commodities traded mixed. Crude, despite questions from some investors about its near-term direction, fell more than $2 a barrel, while corn, wheat and soybean prices rose sharply.

Steep drops in the price of crude _ more than $20 a barrel in the past nine trading sessions _ have weighed heavily on gold prices, which have fallen 5 percent in the past week. But some traders, believing oil is oversold and has more room to rise, have started buying the metal again on expectations that high energy prices, a weak dollar and lingering economic turmoil will boost demand for safe-haven assets. A falling dollar typically leads investors to buy gold, which is known for holding its value.

"Gold is being bought on concerns that things may keep getting worse. It's your insurance policy," said Carlos Sanchez, analyst with CPM Group in New York.

Gold for August delivery rose $3.50 to settle at $926.80 an ounce on the New York Mercantile Exchange, after earlier rising as high as $935.20 an ounce.

The dollar on Friday tumbled further against the euro, which bought $1.5699.

September silver rose 7.7 cents to settle at $17.375 an ounce on the Nymex, while September copper added 2.8 cents to settle at $3.605 an ounce.

A recent downturn in the commodities complex has kept gold in a holding pattern of late, but some analysts expect prices to turn higher later this year if U.S. economic troubles persist.

In energy markets, oil prices fell to their lowest point in weeks amid questions about whether prices have soften enough to reflect a significant drop in demand. Light, sweet crude for September delivery fell $2.23 to settle at $123.26 a barrel in on the Nymex. Earlier the contract dropped as far as $122.50, its lowest point since June 5. Continued...