Gold futures declined in noon trade on Friday, extending yesterday's losses. The yellow metal was trading lower due to taking weak cues from the global market.
December 2012 gold futures at the MCX were trading down 0.25% at Rs 31,497 per 10 grams at 12.23 pm after hitting high of Rs 31,572. It opened at Rs 31,500.
"Gold in India was down as stronger rupee pulled down the prices but lower than expected GDP and Fiscal deficit data today can weaken the rupee and push gold prices up," said Emkay Commodity Research.
