Silver futures rise on spot demand

New Delhi, Jul 31 (PTI) Silver prices on Wednesday jumped Rs 558 to Rs 83,217 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 558 or 0.68 per cent to Rs 83,217 per kg in 27,340 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 0.75 per cent higher at USD 28.74 per ounce in New York.