Silver futures rise on spot demand

Silver prices on Friday jumped Rs 988 to Rs 71,970 per kilogram in futures trade as participants widened their bets on a firm spot demand.

New Delhi: Silver prices on Friday jumped Rs 988 to Rs 71,970 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 988 or 1.39 per cent to Rs 71,970 per kg in 18,030 lots.

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

Globally, silver was trading 1.37 per cent higher at USD 23.31 per ounce in New York.