World oil prices struck a three-month low point in New York this week on easing supply concerns, while strong Chinese demand helped copper reach 4,000 dollars per tonne for the first time.
The Commodities Research Bureau's index of 17 commodities fell to 321.54 points on Friday from 324.31 points the previous week.
Gold "came back under pressure as sliding oil prices weighed on market sentiment", said James Moore, an analyst at the specialist website TheBullionDesk.com.
The precious metal's failure to advance amid a weaker dollar "suggests further fund liquidation is on the cards in the coming sessions", he added. The metal's fall came after jumping 9.0 percent in three months to reach an 18-year high of 480.49 dollars at the start of the previous week.
Gold is seen as a safe haven amid high inflation, while a weaker US currency traditionally leads to a rise in the metal's price. On the London Bullion Market, gold prices fell to 462.85 dollars per ounce at the late fixing on Friday from 469.50 dollars the previous week.
Gold's sister metal reached 7.86 dollars per ounce at Monday's fixing, the highest level since December 7, 2004, but later fell on profit-taking.
"Silver has shown some resilience... helped to a greater extent by the buoyant copper market," Moore said. "However with the funds beginning to liquidate and gold declining I think silver will be hard pressed not to follow," he added.
On the London Bullion Market, silver prices eased to 7.60 dollars per ounce at the late fixing Friday from 7.67 dollars the previous week.
Palladium rose to 213 dollars per ounce at Monday's fixing, the highest point since November 26, 2004.
Platinum had an indifferent time after hitting 944.50 dollars - the highest level for nearly 25 years - the week before.
On the London Platinum and Palladium Market (LPPM), an ounce of platinum climbed to 925.50 dollars per ounce at the late fixing Friday, from 924 dollars the previous week.
Palladium climbed to 208 dollars per ounce, from 205 dollars.
On Thursday, three-month copper prices on the London Metal Exchange (LME) hit 4,015 dollars per tonne - the highest price for the metal since it was first quoted in its current form in 1870.
Copper futures in London have jumped by around 27 percent since the start of 2005.
"The combination of a sharp (midweek) rebound in US equities, a slightly weaker dollar and strong Chinese data seems to have been enough to underpin the metals," said William Adams, analyst with specialist website BaseMetals.com.
China, accounting for some 22 percent of global copper demand, saw its economy maintain brisk growth in the first three-quarter of 2005, expanding at 9.4 percent with investment still strong and exports booming, official data showed Thursday.
By Friday, three-month copper prices on the LME rose to 3,856 dollars per tonne from 3,828.50 dollars the previous week.
Three-month aluminium prices dipped to 1,928.50 dollars per tonne from 1,933 dollars.
Three-month nickel prices fell to 11,925 dollars per tonne from 12,295 dollars.
Three-month lead prices dropped to 955 dollars per tonne from 966 dollars.
Three-month zinc prices decreased to 1,473 dollars per tonne from 1,490 dollars.
Three-month tin prices slid to 6,400 dollars per tonne from 6,525 dollars.
The price of crude dropped below 60 dollars per barrel to reach three-month low points in New York on Friday.
New York's main contract fell to 59.31 dollars, the lowest level since late July and 16 percent below the historic high of 70.85 dollars on August 30.
Prices declined as Hurricane Wilma appeared likely to avoid the main oil producing and refining areas around the US Gulf of Mexico.
Oil futures weakened as data also showed that crude stocks had risen by 5.6 million barrels in the week to October 14. The figure from US Department of Energy was almost three times higher than analysts' forecasts of a 2.0-million-barrel increase.
Gasoline reserves meanwhile gained 2.77 million barrels, compared with market predictions of a 1.2-million-barrel decrease.
"The figures are extremely bearish," noted Societe General analyst Deborah White. "The crude build is much larger than we expected and the market was expecting a gasoline draw and of course we saw a build."
A barrel of Brent North Sea crude for delivery in December dropped to 57.80 dollars late Friday, compared to 59.48 dollars the previous week.
In New York, a barrel of crude for delivery in December slumped to 59.31 dollars from 61.99 dollars.
"China buying has quietened down and Tokyo prices came back below the 200-yen psychological level," said Rashid Ahmed, a trader with Corrie Maccoll.
The raining season traditionally lowers output in Malaysia, Indonesia and Thailand, as farmers find it more difficult to collect latex.
On TOCOM, Tokyo's commodity exchange, natural rubber for December delivery dipped to 193.50 yen on Friday, from 198.90 yen a week earlier.
Singapore's RSS 3 December contract decreased to 167.25 cents on Friday, from 171.00 cents the previous week.
"The market slipped" on "anticipation of a good 2005/06 harvest", said Refco analyst Ann Prendergast.
On the Liffe, London's futures exchange, the price of cocoa for December delivery fell to 817 pounds on Friday, from 843 pounds a week earlier.
On the New York Board of Trade (NYBoT), the December contract decreased to 1,365 dollars per tonne on Friday, from 1,408 dollars.
"Wilma is already a threat to the coffee crop in Mexico and Central America because the extra moisture during the harvest makes the coffee fruit on the trees vulnerable to bacteria, which could harm the quality of the beans," analysts at the Sucden brokerage said.
The recent passage of tropical storm Stan through the region had already affected crops in Mexico, Guatemala and El Salvador.
On the Liffe, Robusta quality for January delivery jumped to 969 dollars per tonne on Friday, from 953 dollars a week earlier.
On the NYBoT, Arabica for December delivery stood at 105.90 cents per pound, from 98.70 cents.
In New York, the price of unrefined sugar for March delivery reached 11.91 cents on October 4, a level last seen in January 1998.
By Friday on Liffe, the price of a tonne of white sugar for December delivery stood at 299 dollars, unchanged from a week earlier.
On the NYBot, the price of unrefined sugar for March delivery stood at 11.76 US cents on Friday, from 11.68 cents a week before.
"For corn, we could see storage problems because the harvest is going so fast and the yield is so big that there may not be enough room to store the corn," said US Commodities analyst Don Roose.
"Bird flu reduced soyabeans meal prices," he added.
Several cases of the virulent H5N1 virus have been found in south-east Asia and on the fringes or Europe, leading to mass culls of farm fowl.
On the Liffe, the price of a tonne of wheat for November delivery fell to 68 pounds late Friday, from 69.70 pounds a week earlier.
On the Chicago Board of Trade, the price of wheat for December delivery dropped to 330 US cents per bushel on Friday, from 341.25 cents.
Maize for December delivery eased to 201 cents per bushel Friday, from 202.25 cents.
Soyabeans for November delivery slipped to 573.50 cents per bushel on Friday, from 590 cents.
December-dated soyabean meal - used in animal feed - sank to 168.90 dollars per tonne, from 177.60 dollars.
"Cotton futures faltered as... speculative selling came in and hammered the market," Refco's Prendergast said.
Cotton prices have lost 4.5 percent since striking 57.80 cents on October 13, the best value since June 2004.
On the New York Cotton Exchange (NYCE), the December contract declined to 53.30 US cents per pound on Friday, from 55.45 cents a week earlier.
The Cotton Outlook Index of physical cotton stood at 58.45 cents on Thursday, from 59.40 cents last week.
The Australian Eastern index edged up to 6.72 Australian dollars per kilo on Thursday from 6.71 last week. It fell to 6.70 on October 6 - the lowest point since March 2000.
The British Wooltops index remained at 403 pence on Thursday, unchanged from the previous week.