Silver futures jump on spot demand

New Delhi, Aug 20 (PTI) Silver prices on Tuesday jumped Rs 425 to Rs 84,763 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 425 or 0.5 per cent to Rs 84,763 per kg in 23,316 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 0.67 per cent higher at USD 29.93 per ounce in New York.