Indian silver exchange-traded funds (ETFs) witnessed a sharp sell-off on Thursday, plunging up to 20% in early trade as investors rushed to exit amid heightened volatility in precious metals. The steep fall wiped out the unusually high premium at which these ETFs were trading compared to international prices and physical silver markets. Nippon India Silver ETF, ICICI Prudential Silver ETF and Kotak Silver ETF fell between 19% and 20% during morning trade. As per ET, the funds slipped below their indicative net asset values (iNAVs), turning what was earlier a steep premium into a discount. The sell-off was largely ... (full story)