Silver futures up on spot demand

Silver futures prices rose by Rs 194 to Rs 53,155 per kg today on pick-up in demand in the spot market amid a firming global trend.

At the Multi Commodity Exchange, March silver rose by Rs 194, or 0.37%, to Rs 53,155 per kg, with a business turnover of 13,842 lots.

The May contract moved up by Rs 195, or 0.36%, to Rs 54,325 per kg, with a business volume of 368 lots.

Market analysts attributed the rise in silver futures prices to pick-up in spot demand amid a firming global trend.

Meanwhile, silver rose by 0.7% to $29.01 an ounce in Singapore.