Silver prices on Wednesday rose by Rs 98 to Rs 49,749 per kg in futures trade as participants widened their bets on firm spot demand and global cues.

On the Multi Commodity Exchange, silver contracts for July gained Rs 98, or 0.2 per cent, to Rs 49,749 per kg in 702 lots.

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

In the international market, silver was trading up by 0.74 per cent at USD 18.77 an ounce in New York.