Silver futures rise on firm spot demand

New Delhi, Jul 4 (PTI) Silver prices on Tuesday increased by Rs 221 to Rs 70,510 per kilogram in futures trade as participants widened their bets on robust spot demand.

On the Multi Commodity Exchange, silver contracts for September delivery gained Rs 221 or 0.31 per cent to Rs 70,510 per kg in 12,121 lots.

Analysts said the rise in silver prices was mainly due to fresh positions built up by participants following a positive domestic trend.

Globally, silver was trading 0.36 per cent higher at USD 23.20 per ounce in New York.