Silver prices rose Rs 106 to Rs 63,332 per kg in the futures trade on Wednesday, as participants widened their bets on a firm spot demand.

On the Multi Commodity Exchange, silver contracts for the September delivery gained Rs 106, or 0.17 per cent, to Rs 63,332 per kg in 9,679 lots.

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

Globally, silver was trading 0.29 per cent higher at USD 23.78 per ounce in New York.