Silver futures rise on spot demand

New Delhi, Jun 16 (PTI) Silver prices on Friday increased Rs 288 to Rs 72,414 per kilogramme in futures trade as participants widened their bets on firm spot demand.

On the Multi Commodity Exchange, silver contracts for July delivery gained Rs 288 or 0.4 per cent to Rs 72,414 per kg in 13,470 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 0.58 per cent higher at USD 24.09 per ounce in New York.