Silver futures rise on firm demand

Silver prices on Friday soared Rs 914 to Rs 36,016 per kg in futures trade as participants widened their bets amid a firm trend in precious metal overseas.

On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 914, or 2.6 per cent, to Rs 36,016 per kg in 5,240 lots.

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Similarly, the white metal for delivery in July was trading higher by Rs 1,119, or 3.15 per cent, to Rs 36,597 per kg in 426 lots.

Traders said fresh bets by participants in line with a firm trend in global markets mainly led to rise in silver futures.

In the international market, silver was quoting 2.91 per cent higher at USD 12.12 an ounce in New York.