Silver futures rise on spot demand

Futures trading was closed in the first half of day on account of the Mahashivratri holiday.

New Delhi: Silver prices on Friday rose Rs 187 to Rs 74,502 per kilogram in futures trade as participants widened their bets on a firm spot demand.

Futures trading was closed in the first half of day on account of the Mahashivratri holiday.

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On the Multi Commodity Exchange, silver contracts for May delivery increased Rs 187, or 0.25 per cent, to Rs 74,502 per kg in 22,490 lots.

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 0.58 per cent higher at USD 24.72 per ounce in New York.

Stock and money markets remained closed for the holiday.