Silver futures rise on spot demand

Silver prices on Wednesday increased by Rs 569 to Rs 62,159 per kilogram in futures trade as participants widened their bets amid firm spot demand.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 569 or 0.92 per cent to Rs 62,159 per kg in 14,055 lots.

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

Globally, silver was trading 1.12 per cent higher at $21.76 per ounce in New York.