Silver prices on Monday rose ₹38 to ₹74,300 per kilogram in futures trade as participants widened their bets on a firm spot demand.

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On the Multi Commodity Exchange, silver contracts for May delivery increased ₹38 or 0.05 per cent to ₹74,300 per kg in 22,083 lots.

Analysts said the rise in silver prices was mainly due to fresh positions built up by participants on a positive domestic trend.

Globally, silver was trading 0.08 per cent lower at $24.53 per ounce in New York.