Silver futures jump on spot demand

Silver prices on Wednesday rose by Rs 646 to Rs 65,499 per kg in futures trade as participants widened their bets on a firm spot demand. In the international market, silver was trading 1.22 per cent higher at USD 24.95 per ounce in New York.

Silver prices on Wednesday rose by Rs 646 to Rs 65,499 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 646, or 1 per cent, to Rs 65,499 per kg in 13,991 lots.

Analysts said the rise in silver prices was mostly due to fresh positions built up by participants on a positive domestic trend. In the international market, silver was trading 1.22 per cent higher at USD 24.95 per ounce in New York.