Silver futures up on spot demand

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New Delhi, Mar 24 (PTI) Silver prices rose Rs 242 to Rs 65,214 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 May delivery gained Rs 242, or 0.37 per cent, to Rs 65,214 per kg in 12,030 lots.

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

Globally, silver was however trading 0.03 per cent lower at USD 25.22 per ounce in New York. PTI SHW HRS hrs