Silver futures surge on spot demand

New Delhi, Nov 18 (PTI) Silver prices on Monday jumped Rs 724 to Rs 89,145 per kilogram as participants increased their bets.

On the Multi Commodity Exchange, silver contracts for December delivery increased by Rs 724 or 0.82 per cent to Rs 89,145 per kg in a business turnover of 22,295 lots.

Fresh positions built up by participants led to a rise in silver prices, analysts said.

Globally, silver was trading 1.15 per cent higher at USD 30.61 per ounce in New York.