Silver futures up on spot demand

Silver prices rose by Rs 431 to Rs 64,061 per kg in futures trade on Friday as participants widened their bets on firm spot demand. Globally, silver was trading 0.65 per cent higher at USD 24.30 per ounce in New York.

Silver prices rose by Rs 431 to Rs 64,061 per kg in futures trade on Friday as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 431, or 0.68 per cent, to Rs 64,061 per kg in 11,905 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 0.65 per cent higher at USD 24.30 per ounce in New York.