Silver rises 1.7% on increased buying

Silver futures climbed 1.69 per cent in early trade on the Multi Commodity Exchange (MCX) today on emergence of brisk buying by speculators following an upsurge in the spot market.

At 1100 hrs on the MCX, silver for the most-active May-month contract rose by 1.69 per cent to Rs 21,529 per kg, clocking 779 lots.

The metal for delivery in July contract rose by 1.63 per cent to Rs 21,696 per kg, with trading of 105 lots.

Marketmen said a pick-up in demand in the spot markets on account of the 'Akshay Tritya' festival, mainly pushed up the pri]ces of silver.