Silver futures rise on spot demand

New Delhi, Jul 24 (PTI) Silver prices on Wednesday jumped Rs 431 to Rs 85,350 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 431 or 0.51 per cent to Rs 85,350 per kg in 26,508 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 0.39 per cent higher at USD 29.45 per ounce in New York. PTI SGC SHW