Silver futures up on spot demand

New Delhi: Silver prices on Monday rose by Rs 712 to Rs 61,577 per kg in futures trade as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 712, or 1.17 per cent, to Rs 61,577 per kg in 14,233 lots.

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

In the international market, silver was trading 1.48 per cent higher at USD 24 per ounce in New York.