Silver is mostly flat today following the two-day major upside move. The market environment remains supportive for silver price upside as the U.S. dollar is under pressure, the stock market is optimistic while gold trades close to recent highs.
"The options on goods contracts shall enable small-time jewellers, retailers to come forward and hedge their price risk on the BSE's commodity platform," said Ashishkumar Chauhan, MD and CEO of the BSE.
Silver futures on Friday posted a gain of nearly 24% for the month, the largest since 2011, with the industrial metal finding support as global economies continue to reopen from pandemic-related shutdowns.
Warren Buffett's purchase of almost 3,500 tons of silver in 1997 helped turn Thomas Kaplan into a billionaire.
After the silver bubble burst in early 1980, the precious metal plunged in price from $50 an ounce to below $10, and it was widely dismissed as a bad investment.
"What really put and end to it was when Warren Buffett bought [those] ounces of silver," Kaplan, the chairman of NovaGold Resources, told shareholders this month.
"It became public that he had done this the week when I was…