According to the latest figures released, the gold futures opened lower at Rs 30,650 per 10 grams on Thursday compared to the previous day's close of Rs 30,698.

The gold prices touched a high of Rs 30,683 and low of Rs 30,618 so far in the trading today. He prices fell 0.09 per cent and were trading at Rs 30,671 this afternoon at the time of reporting.

Gold for February delivery fell by $3 at $1,658 a troy ounce by this afternoon at commodity exchange market.

Data showed that February 2012 gold futures at the MCX were fell 0.16 per cent at Rs 30,698 per 10 grams around noon today. Experts have said that the uncertainity over the fiscal cliff situation will push gold prices down in the global markets.

A new report by Emkay Commodity Research said, "Gold in India is expected to follow international prices and a stronger rupee would further weaken the prices. Gold for February delivery on the Multi Commodity Exchange (MCX) was 0.51% down at Rs 30,698/10gms."

The traders will reply on stocks for supplying the market as producers halt production during a fortnight of the calendar year for closing accounting. The imports rose against after falling due to weak demand from customers and weak rupee.