New Delhi, Sept. 28 -- Gold and silver exchange-traded funds (ETFs) plunged over 4% on Monday, 28 September, after facing heavy selling pressure, tracking a sharp decline in precious metal prices.

The sell-off came as rising crude oil prices stoked inflation concerns and raised expectations that the US Federal Reserve could pursue further interest-rate hikes.

Silver ETFs witnessed a steeper decline, falling as much as 4%, while gold ETFs dropped more than 2%.

Among major silver ETFs, SBI Silver ETF was the biggest decliner, falling 3.99%. Nippon India Silver ETF dropped 3.57%, while Tata Silver Exchange Traded Fund declined 3.51%. ICICI Prudential Silver ETF also fell 3.44%.

Gold ETFs also remained firmly in negative territory. ICICI ...