Silver futures up on spot demand

Silver prices rose Rs 273 to Rs 60,116 per kg in futures trade on Thursday as participants widened their bets on firm spot demand.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 273, or 0.46 per cent, to Rs 60,116 per kg in 8,577 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 0.40 per cent higher at USD 23.54 per ounce in New York.