Silver futures rise on spot demand

Silver prices on Thursday increased by Rs 750 to Rs 55,687 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for September delivery gained Rs 750 or 1.37 per cent to Rs 55,687 per kg in 13,674 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 1.82 per cent higher at USD 19.32 per ounce in New York.