Gold Futures Slip as Spot Demand Weakens

Gold prices went down in futures trading.

Futures are agreements to buy or sell something later at a set price.

The price fell by Rs 2,045 for every 10 grams of gold.

October gold contracts dropped by 1.31 per cent.

Analysts said fewer buyers in the immediate market helped push prices lower.

Gold futures also fell in international trading.

The global price reached $4,432.51 per ounce.

This means gold became less expensive in both the reported local and global markets.