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.

In other Nymex trading, heating oil futures fell 4.42 cents to settle at $3.5229 a gallon while gasoline futures lost 2.71 cents to finish at $3.0323 a gallon.

Meanwhile, agriculture prices rallied Friday as investors bet that recent drops in corn, wheat and soybeans were exaggerated and that prices could swing higher.

Wheat for September delivery jumped 23.25 cents to settle at $8.11 a bushel on the Chicago Board of Trade, after earlier rising as high as $8.21 a bushel.

Prices for corn and soybeans have fallen sharply in recent weeks as warm, dry weather in the Midwest has boosted optimism that crops damaged by June flooding will recover and produce a decent yield.

Corn for December delivery rose 4.5 cents to settle at $5.965 a bushel on the CBOT, while soybeans for November delivery added 13.5 cents to settle at $13.865 a bushel.