Silver futures up on spot demand

Silver prices on Monday rose by Rs 3,244 to Rs 72,950 per kg in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 3,244, or 4.65 per cent, to Rs 72,950 per kg in 15,273 lots.

Analysts said the rise in silver prices was mostly due to fresh positions built up by participants on a positive domestic trend.

Globally, silver was trading 9.81 per cent higher at USD 29.56 per ounce in New York.


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