West Texas Intermediate crude declined on the New York Mercantile Exchange, paring a sixth consecutive weekly gain. Brent also slipped, narrowing a gain for the week.

WTI for April delivery dropped 56 cents, or 0.5 percent, to $102.19 a barrel at 10:50 a.m. on the New York Mercantile Exchange. The volume of all futures traded was 27 percent below the 100-day average. Crude is up 1.9 percent this week and 10 percent in the past six weeks.

Brent for April settlement slipped 48 cents, or 0.4 percent, to $109.82 on the London-based ICE Futures Europe exchange. Prices are up 0.7 percent this week. Trading was 37 percent lower than the 100-day average. The European benchmark crude was traded at $7.63 premium to WTI, little changed from $7.55 yesterday.

WTI is set for the longest run of weekly gains in a year with supplies falling at Cushing and cold weather bolstering fuel demand. The opening of the Keystone XL pipeline’s southern link in January eased a bottleneck in the central U.S.

WTI may fall next week as stockpiles expand, a Bloomberg survey shows. Twenty-three of 28 analysts and traders, or 82 percent, said futures will decrease through Feb. 28. Four respondents expected prices to gain while one forecast there will be little change.

Gold prices driven down by increasing the dollar, but to grow the third consecutive week as investors see an unstable global economic growth .

According to preliminary index PMI, manufacturing activity and employment in China declined in February , but the activity in the U.S. manufacturing grew at the fastest pace in nearly four years .

Manufacturing activity in China - the largest consumer of gold in the world - fell to seven-week low in February , as evidenced by a preliminary purchasing managers' index (PMI) for the manufacturing , calculated by HSBC. The data suggest that the economy may weaken, while the focus of the government is more steady, though slower economic growth.

Dollar to a basket of major currencies rose from previously marked minimum of eight weeks.

Margins on gold bullion stable in Hong Kong and Singapore , but declined due to the growth in Tokyo futures.

Stocks of the world's largest exchange-traded fund backed by gold ETF SPDR Gold Trust on Thursday fell 0.7 percent .

The cost of the April gold futures on the COMEX today dropped to $ 1315.90 per ounce.