Silver futures rise on spot demand

New Delhi, Jul 16 (PTI) Silver prices on Tuesday jumped Rs 258 to Rs 92,830 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 258 or 0.28 per cent to Rs 92,830 per kg in 22,725 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 0.42 per cent higher at USD 31.07 per ounce in New York.