Silver futures jump on spot demand

Silver prices on Wednesday rose by Rs 243 to Rs 68,340 per kg in futures trade as participants widened their bets on a firm spot demand. In the international market, silver was trading 0.58 per cent higher at USD 26.37 per ounce in New York.

Silver prices on Wednesday rose by Rs 243 to Rs 68,340 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 243, or 0.36 per cent, to Rs 68,340 per kg in 13,967 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 0.58 per cent higher at USD 26.37 per ounce in New York.