Gold futures rose on Wednesday on weaker dollar while crude futures also gained.

Gold for April delivery was up $7.20, or 0.8 percent, at $942.20 an ounce on the Comex division on the New York Mercantile Exchange.

News of a 1.7 percent drop in U.S. orders for durable goods in February, marking a second decline in a row, further pressured the U.S. currency. In addition, new homes also fell to a 13-year low in February.

The dollar index, which tracks the value of the greenback against a basket of major currencies, was down 0.3 percent at 71.81.

The dollar came under renewed pressure, especially against the euro, after reports showing resilient business sentiment in the euro zone's two biggest economies.

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