Gold futures gained in noon trade on Friday. February 2012 gold futures at the MCX were trading up 0.48% at Rs 30,629 per 10 grams at 12.07 p.m. after hitting high of Rs 30,655. It opened at Rs 30,599.
Commenting on the outlook, Emkay Commodity Research said, "Gold is expected to go down as uncertainty over fiscal cliff continues and a stronger dollar will further put pressure on prices. Gold in India is expected to follow international prices, however a weaker rupee can cap the downside. Gold for February delivery on the Multi Commodity Exchange (MCX) was 1.09% down at Rs 30,482/10gms."