New Delhi, March 6 -- Both gold and silver saw renewed buying in Friday's session as traders reacted to the unexpected drop in new US jobs data, boosting prospects of a US Federal Reserve rate cut, though a stronger dollar capped gains.

Gold, which usually remains hot during periods of geopolitical tensions, gained $104 per troy ounce on Comex to the day's high of $5,182 per ounce on March 6. The May silver futures contract, too, strengthened $3.15 per troy ounce to reach the day's high of $85.33.

On the economy front, the US economy lost 92,000 jobs in February, while economists were expecting a gain of 50,000. The unemployment rate also rose to 4.4%.

In theory, a weak jobs report would help build a case for the Federal Reserve to cut...