Silver futures rise on firm demand

Silver futures on Tuesday traded higher by Rs 57 at Rs 44,550 per kg after speculators raised bets, driven by a firm trend overseas.

Silver contracts for March delivery rose by Rs 57, or 0.13 percent, to Rs 44,550 per kg in a business turnover of 2,185 lots on the Multi Commodity Exchange.

Besides, the white metal to be delivered in May shot up by Rs 124, or 0.28 percent, to Rs 45,055 per kg in 205 lots.

Analysts said widening of positions by traders in sync with a firm trend overseas for precious metals mainly influenced silver prices here.

In the international market, silver traded 0.04 percent higher at USD 17.13 an ounce in New York.