Silver futures up on spot demand

New Delhi: Silver prices on Wednesday rose by Rs 565 to Rs 61,107 per kg in futures trade as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for December gained Rs 565, or 0.93 per cent, to Rs 61,107 per kg in 15,770 lots.

Analysts said the rise in silver prices was mostly due to fresh positions built up by participants on a positive domestic trend.

Silver was trading 1.04 per cent up at USD 24.38 per ounce in New York.