Silver prices strengthens as spot demand rises

Silver futures continued to rise for the second straight day by adding 0.44 per cent on the Multi Commodity Exchange (MCX) today on increased offtake in the spot markets.     

Silver for September contract strengthened further by 0.44 per cent to Rs 23,133 with an open interest of 11,131 lots. It had gained 0.17 per cent in previous day's trading.     

Similarly, the metal for delivery in December contract went up by 0.36 per cent to Rs 23,251 clocking an open interest of 1,219 lots.    

Marketmen said increased demand in the spot markets due to festival season mainly pushed up silver prices at futures market here.