India's gold futures reversed early losses to trade higher on Friday on global leads and domestic demand remained dull as traders avoided fresh positions ahead of the year-end, dealers said.
Gold demand "is not good now...., the demand is very low," said an official at Parker Agrochem Exports Ltd. in Ahmedabad, adding that buying could emerge if prices decline further.
Overseas gold edged higher on Friday amid views that dollar would remain under pressure given the grim outlook of the U.S. economy, but activity was slow due to the holiday season.
The benchmark February gold contract MAUG9 traded higher by 14 rupees at 13,088 rupees per 10 grams.
Dealers expect demand to pick up at least by the first week of January when traders stock up the yellow metal for the second phase of the wedding season, which begins mid-January.
