Silver futures climb Rs 160 on firm global cues

Tracking a firming trend in the precious metals overseas, silver prices soared by Rs 160 to Rs 38,748 per kg in futures trade today as speculators widened their bets.
In futures trading at the Multi Commodity Exchange, silver for delivery in far-month September shot up by Rs 160 or 0.41 per cent to Rs 38,748 per kg in a business turnover of 36 lots.
The white metal for delivery in July was trading higher by Rs 135 or 0.35 per cent to Rs 38,200 per kg in 774 lots.
Market analysts said speculative position created by participants, driven by firm global trend, mainly influenced silver futures prices here.

Meanwhile, silver rose 0.33 per cent to USD 16.50 an ounce in Singapore.