Silver futures rise on spot demand

Silver prices rose by Rs 477 to Rs 72,476 per kg in the futures trade on Friday, as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the July delivery gained Rs 477, or 0.66 per cent, to Rs 72,476 per kg in 12,658 lots.

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

Globally, silver was trading 0.83 per cent higher at USD 28.27 per ounce in New York. 

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