Silver futures rise 0.3% on spot demand

Firm global cues support uptrend

Silver prices rose by Rs 183 to Rs 58,757 per kg in futures trade today on pick up in spot market demand in view of the festive season amid a firm global trend.

At the Multi Commodity Exchange, silver for delivery in December rose by Rs 183, or 0.31%, to Rs 58,757 per kg, with a business turnover of 15,122 lots.

March silver moved up by Rs 164, or 0.27%, to Rs 60,600 per kg, with a business turnover of 808 lots.

Marketmen said pick up in spot market demand, driven by the festive season, amid a firm global trend pushed up silver prices at futures trade.

Meanwhile, silver rose by 0.6% to $31.36 an ounce in London.