Silver futures rise on spot demand

Silver futures rose Rs261 to Rs72,125 per kilogram as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange (MCX), silver contracts for March delivery increased Rs261 or 0.31 per cent to Rs72,125 per kg in 17,644 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 $23.21 per ounce in New York.