Silver futures up on spot demand

Silver prices rose by Rs 520 to Rs 65,949 per kg in futures trade on Tuesday as participants widened their bets on firm spot demand.

On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 520, or 0.79 per cent, to Rs 65,949 per kg in 12,208 lots.

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

Globally, silver was trading 1.87 per cent higher at USD 25.33 per ounce in New York.

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