Silver futures up on spot demand

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New Delhi, Jan 6 (PTI) Silver prices rose Rs 193 to Rs 71,051 per kg in the futures trade on Wednesday as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the March delivery gained Rs 193, or 0.27 per cent, to Rs 71,051 per kg in 16,013 lots.

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

Globally, silver was trading 0.83 per cent higher at USD 27.87 per ounce in New York. PTI RUJ HRS