Silver moves up by Rs 165 in futures trade

Silver prices were up by Rs 165 at Rs 38,404 per kg in futures trading today as speculators indulged in creating fresh positions, taking positive cues from global markets.
At the Multi Commodity Exchange, silver for delivery in September was trading higher by Rs 165, or 0.43 per cent, at Rs 38,404 per kg, in a business turnover of six lots.
Likewise, the white metal for delivery in July rose by Rs 153, or 0.40 per cent, to Rs 37,942 per kg in 715 lots.
Market analysts said speculative positions built up by participants at prevailing levels, mainly influenced silver futures.

Meanwhile, silver was up 0.03 per cent at USD 16.16 an ounce in Singapore today.