Due to strong demand in the spot market, traders in the local futures market increased the size of their deals on Wednesday, causing silver futures to rise by Rs 565 to Rs 61,1107 per kg.
At the Multi Commodity Exchange, silver for the December contract rose by Rs 565, which was up by 0.9% to Rs 61,1107 per kg. It traded for 15,77,000 lots.
Market analysts said that fresh positions were traded by traders due to the rise in the domestic market, which led to the rise in silver futures.
Silver prices rose by 0.4 per cent to USD 24.38 an ounce in Newyac.