Gold Futures Decline on Weaker Spot Demand

Gold futures traded lower on Friday, falling Rs 409 to Rs 1,53,057 per 10 grams in futures trade due to weaker spot demand. The October delivery contracts were down by 0.27 percent in a business turnover of 2,732 lots.

Analysts attributed the decline in precious metal prices to the fall in spot demand, which is affecting the overall market sentiment.

The global gold futures also declined by 0.06 percent to $4,347.69 per ounce in New York, indicating a broader trend of weakness in the commodity markets.