Silver futures rise on spot demand

New Delhi, Oct 18 (PTI) Silver prices on Wednesday jumped Rs 483 to Rs 72,050 per kilogram in futures trade as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for December delivery gained Rs 483 or 0.67 per cent to Rs 72,050 per kg in 19,141 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 0.85 per cent higher at USD 23.22 per ounce in New York.