Gold futures fall Rs 409 as weak spot demand persists

Gold is a shiny yellow metal that people use to make jewelry and keep as savings.

Its price can go up or down, just like the price of a toy.

When fewer people want to buy gold, sellers lower the price to attract buyers.

On Friday, the price of gold in India's futures market fell by Rs 409.

Now one 10-gram unit costs about Rs 1,53,057.

Analysts said the price dropped because demand for buying gold right away, called spot demand, was weak.

A similar small dip happened around the world, with gold in New York falling slightly to $4,347.69 per ounce.

The drop was tiny, less than one-third of a percent.

So gold is still very valuable, but its price slipped a little because fewer people were buying it that day.