Silver futures rise on spot demand

Silver futures climbed Rs116 to Rs70,351 per kilogram as participants widened their bets on a firm spot demand.

On MCX, silver contracts for September delivery gained Rs116 or 0.17 per cent to Rs70,351 per kg in 14,023 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 0.50 per cent higher at USD 23.18 per ounce in New York.