Silver futures rise on spot demand

Silver prices on Monday increased by Rs 58 to Rs 57,800 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for July delivery gained Rs 58 or 0.1 percent to Rs 57,800 per kg in 112 lots.

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

Globally, silver was trading 0.40 percent higher at USD 19.75 per ounce in New York.