Gold falls from record; importers wait for further drop

Indian gold futures eased from previous session's peak on Friday following a similar trend in the global markets and a firm rupee at home, but importers found the current price levels unattractive before festivals.

* The key gold for October delivery on the Multi Commodity Exchange (MCX) was down 0.45 percent at 31,326 rupees per 10 grams by at 0939 GMT, falling from the previous day's record of 31,818 rupees.

* Global gold eased on Friday from a near six-month high hit in the previous session as upbeat data from a struggling U.S. labour market dimmed hopes for more stimulus measures from the Federal Reserve.

* The rupee, which traded stronger on Friday, plays an important role in determining the landed cost of the dollar-quoted yellow metal.

* "Business is zero... things will remain the same even during the festival season," said Haresh Acharya, head of bullion desk at Parker Bullion, a wholesaler in Ahmedabad.

* Festival season is underway in India, the world's biggest buyer of the yellow metal, and will continue until November. Weddings also take place during this period.

* Gold imports to India are likely to fall by as much as 26 percent, or by 200 tonnes to 250 tonnes, in 2012 as record high prices hit consumer budgets.

* Silver also fell from its peak following the yellow metal.

* Silver for December delivery on the MCX was 1.06 percent lower at 61,678 rupees per kg.