Silver futures rise on spot demand

Silver futures climbed Rs368 to Rs70,322 per kilogram as participants widened their bets on a firm spot demand. On MCX, silver contracts for September delivery gained Rs368 or 0.53 per cent to Rs70,322 per kg in 17,042 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 0.66 per cent higher at $23.13 per ounce in New York.