Silver futures rise on spot demand

Silver prices on Tuesday rose by Rs 116 to Rs 62,552 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 116, or 0.19 per cent, to Rs 62,552 per kg in 10,231 lots.

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

Globally, silver was trading 0.32 per cent higher at USD 22.93 per ounce in New York.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)