Gold, silver rise after dollar hits new low, oil spikes

In energy futures, crude oil jumped near $120 on the dollar's drop and concerns about supply constraints overseas. A Royal Dutch Shell PLC joint venture declared what's known as force majeure on April and May oil delivery contracts from a 400,000-barrel-a-day Nigerian oil field due to a pipeline attack last week. The move protects the company from litigation if it fails to deliver on contractual obligations to buyers.

Light, sweet crude for May delivery gained $1.69 to $119.17 a barrel on the Nymex, after earlier rising to a trading record of $119.90.

Other energy futures also rose. May gasoline futures added 3.38 cents to $3.0129 a gallon on the Nymex after earlier rising to a trading record of $3.023. May heating oil futures rose 1.86 cents to $3.33 a gallon after earlier rising to a trading record of $3.35.

In agriculture futures, corn prices jumped on expectation that more rainfall in the U.S. corn belt will further slow spring planting.

Corn for May delivery rose 13.75 cents to $5.94 a bushel on the Chicago Board of Trade, after earlier rising as high as $6.005.

Other agriculture futures also rose. Soybeans for May delivery surged 57 cents to $13.725 a bushel on the CBOT, while May wheat gained 2.75 cents to $8.485.