Python: % operator in print() statement

I just came across this Python code, my question is about the syntax in the print statement:

class Point(object):
    """blub"""
    #class variables and methods

blank = Point
blank.x = 3.0
blank.y = 4.0    
print('(%g,%g)' % (blank.x,blank.y))

This print statement simply prints (3.0, 4.0), i.e. the values in blank.x and blank.y.

I don't understand the % operator in front of the (blank.x, blank.y) in the last line. What does it do and where can I find it in the documentation?

Googling this, I always end up with the modulus operator.