Silver futures jump on spot demand

New Delhi, Aug 19 (PTI) Silver prices on Monday jumped Rs 486 to Rs 83,699 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for September delivery increased Rs 486 or 0.58 per cent to Rs 83,699 per kg in 24,545 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 0.57 per cent higher at USD 29.43 per ounce in New York. PTI SGC SHW