Gold futures declined in noon trade on Friday. December 2012 gold futures at the MCX were trading down 0.10% at Rs 31,194 per 10 grams at 12.31 pm after hitting high of Rs 31,280. It opened at Rs 31,211.

Commenting on the outlook, Emkay Commodity Research said, "Gold in India is expected to be up as low prices are attracting investors and the ongoing wedding season has boosted the demand. However, a stronger rupee can cap the gains. Gold for February delivery on the Multi Commodity Exchange (MCX) was 1.29% up at Rs 31,602/10gms."