Silver futures rise by over Rs 700 on spot demand

NEW DELHI: Silver prices rose Rs 735 to Rs 69,852 per kg in the futures trade on Monday as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the March delivery gained Rs 735, or 1.06 per cent, to Rs 69,852 per kg in 12,977 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 0.98 per cent higher at USD 27.60 per ounce in New York. PTI SHW

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