Silver futures up on spot demand

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New Delhi, Jan 4 (PTI) Silver prices rose Rs 2,114 to Rs 70,237 per kg in the futures trade on Monday as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the March delivery gained Rs 2,114, or 3.1 per cent, to Rs 70,237 per kg in 15,489 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 4.10 per cent higher at USD 27.50 per ounce in New York. PTI SHW HRS