Spot gold fell as much as 0.8 percent to $1,131.85 - lowest since April 2010 - before recovering modestly to $1,133.30 by 0622 GMT. The yellow metal has fallen over 3 percent so far this week. Spot silver tumbled to $15.03 - the lowest mark reached since February 2010 - as it headed for its fourth weekly decline in a row. The sell-off in gold began a week ago when the metal broke through $1,180 - the lowest level reached during a 28-percent plunge last year.
Crude oil prices eased in Asia on Friday after OPEC cut a demand forecast for its crude and Libyan officials reportedly said they expect their biggest oil field to recover from a rebel attack and restart production soon. On the New York Mercantile Exchange, West Texas Intermediate crude oil futures for delivery in December traded at $77.83 a barrel, down 0.19%, after hitting an overnight session low of $77.13 a barrel and off a high of $79.02 a barrel.