NEW YORK—Precious metals moved slightly higher Friday, supported by more weakness in the dollar.

Other commodities like base metals and oil declined as investors refrained from making big bets on economically sensitive materials following a report suggesting consumer demand is still soft.

Trading was generally quiet Friday amid light volume, which can exaggerate moves in the market. The mixed bag of news for commodities has become a familiar pattern in recent weeks as investors weigh the impact of a weak dollar against lingering concerns about the economy’s health.