Silver futures rise on spot demand

Silver prices rose Rs144 to Rs70,296 per kilogram in futures trade as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for March delivery increased Rs144, or 0.21 per cent, to Rs70,296 per kg in 28,277 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 0.75 per cent higher at $22.56 per ounce in New York.