Gold futures declined in noon trade on Thursday. December 2012 gold futures at the MCX were trading down 0.33% at Rs 31,199 per 10 grams at 12.13 pm after hitting high of Rs 31,242. It opened at Rs 31,211.
Emkay Commodity Research commenting on the outlook said, "Gold in India is expected to be down as a stronger rupee against the dollar on clearance for FDI in retail in the parliament can put pressure on prices. Gold for February delivery on the Multi Commodity Exchange (MCX) was 0.53% down at Rs 31,199/10gms. After hitting the low of Rs 31,136/10gms."