On the Multi Commodity Exchange (MCX), silver futures for March delivery plunged ₹12,169, or 3.04%, to ₹3,87,724 per kilogram in a business turnover of 8,710 lots. Similarly, gold futures for February contract dropped ₹2,162, or 1.28%, to ₹1,67,241 per 10 grams in 3,965 lots. WGC also warned that India's gold imports are likely to decline this year as record prices weigh on jewellery demand in the world's second-largest consumer. Globally, Comex gold futures for April delivery declined $118.06, or 2.2%, to $5,236.74 per ounce in the Asian trading session. Silver futures on the Comex also fell $4.17, or nearly 4%, to $110.26 per ounce.