Silver futures gain on more demand

Silver prices on Friday climbed Rs633 to Rs83,050 per kilogram in futures trade as participants widened their bets on a firm spot demand.On the Multi Commodity Exchange, silver contracts for July delivery increased Rs633 or 0.77 per cent to Rs83,050 per kg in 17,129 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 higher 1.31 per cent at $28 per ounce in New York.