Gold rebounded Friday after dropping earlier in the day, following movements in the energy and currency markets.

December gold settled up 80 cents to $622.50 a troy ounce, after initially trading as low as $614.50.

Gold initially sold off as energy prices weakened and the dollar climbed. But then as the dollar pulled back and oil prices pulled up, gold recovered.

"I think there is still a general inclination to buy the market on the dips," said Stephen Platt, analyst with Archer Financial Services, also noting there's a general sentiment that December gold's support area is $615-$618.

"There is some feeling we could maybe work higher into the end of the year," he added.

December crude fell as low as $54.86 Friday, but rebounded to well above $55 in later trading. Meanwhile, the dollar rose early in the day against the euro, but then ended lower. The euro bought $1.2816 in late New York trading, after a U.S. government report said housing construction starts fell to a more than six-year low.

Gold is viewed as a hedge against a weakening dollar.

Meanwhile, January platinum settled up $2.80 at $1,192.10 an ounce, after trading as low as $1,135.

December silver settled down 14.5 cents to $12.80, after trading as low as $12.60.

December palladium settled down $4.30 to $317.95 an ounce.

Most-active December copper settled up 1.65 cents at $3.0575 per pound. Earlier in the day session the contract dipped to a fresh 4-1/2 month low of $2.98 but rebounded on a softening dollar and rally in crude oil.