Silver futures up on spot demand

Silver futures traded 1.02 per cent higher at Rs 47,120 per kg Thursday as speculators extended their positions, taking firm cues from the spot market. Silver contracts for September delivery traded higher by Rs 474, or 1.02 per cent, at Rs 47,120 per kg in a business turnover of 7,200 lots at the Multi Commodity Exchange.

Similarly, the white metal to be delivered in December rose by Rs 351, or 0.73 per cent, at Rs 48,460 per kg in 11,592 lots. In the international market, silver traded up by 0.79 per cent at USD 18.56 an ounce in New York.