Spot gold fell 0.4pc to $1,808.67 per ounce by 1:33 p.m. EDT (1733 GMT) after touching its highest level since Aug. 4. U.S. gold futures settled down 0.4pc at $1,812.2
South Korea's won rose as much as 0.6%, while Malaysian ringgit touched a near 2-month top as the dollar kept near two-week lows after Powell indicated on Friday there was no rush to tighten monetary policy
Brent futures rose $1.63, or 2.3pc, to settle at $72.70 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.32, or 2.0pc, to settle at $68.74
"I see two things happening," said Mike Zigmont, head of research and trading at Harvest Volatility Management in New York. "I see a reflexive dip-buying validation and I see the market embracing a dovish Fed"
Energy stocks were supported by higher oil prices on worries about supply disruption in Gulf of Mexico as Tropical Storm Ida advanced, while gold stocks got a boost from higher bullion prices
The Toronto Stock Exchange's S&P/TSX composite index fell 83.17 points, or 0.4pc, to 20,504.15 points, after ending at a new closing high on Wednesday.
Brent crude was down 53 cents, or 0.7 pc, at $71.47 a barrel by 1:25 p.m. EDT (1725 GMT). U.S. West Texas Intermediate oil declined 35 cents to $68.01 a barrel, snapping a three day rally.
The move higher may have been exacerbated by algorithmic traders selling Treasuries after the 10-year yields broke above their daily 200-day moving average.
The yields are in the middle of their recent range after falling from a one-month high of 1.379% on Aug. 12, while holding above a six-month low of 1.127% reached earlier this month.