Gold futures are trading slightly higher in Asia today supported by the weakness in the US dollar and some value buying in the metal after yesterdays nearly $70. According to World Gold Council (WGC) data, India the world's largest importer of gold, saw a sharp decline in demand for the first time in five quarters in July-September. The demand fell 23 per cent year-on-year from 263.9 tonnes to 203.3 tonnes. This was in variance with the global demand, which went up six per cent. China's demand rose 16 per cent in the same period. Central Bank and government-institution purchases of gold jumped more than sixfold to 148.4 tonnes in the third quarter, the World Gold Council says. The total for 2011 at 450 tonnes would be the most for any year since at least 1970, according to the latest available data from the council. An ounce of gold on COMEX division of New York Mercantile Exchange is trading up $3 at $ 1724 per ounce. Yesterday, it ended lower by $54.1 or 3.1%, to end at $1,720.20 an ounce on the Comex division of the New York Mercantile Exchange, falling to a low of $1,711 during intraday trading. Today, the dollar slipped against the euro but gained on commodity currencies during Asian trading Friday, as risk appetite faded on fears about the global economy. The euro rose to $1.3484, up from $1.3458 in North American trading late Thursday. Against the Japanese yen , the greenback bought ¥76.84, down from ¥76.97 late Thursday. The dollar index which tracks the performance of the greenback against a basket of six other major currencies, slipped to 78.143, from 78.298. MCX December gold futures are trading up over Rs. 100 at Rs. 28542 per 10 grams after tumbling near Rs. 28200 yesterday. A break of Rs. 28570 levels may take it to Rs. 28700 levels or else the support is seen at Rs. 28200 levels.

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