Guar gum futures gain on spot demand

Guar gum prices on Monday gained Rs 69 to Rs 5,810 per five quintal in futures trade as speculators increased their holdings on spot demand. Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.

Guar gum prices on Monday gained Rs 69 to Rs 5,810 per five quintal in futures trade as speculators increased their holdings on spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded higher 1.2 per cent, or Rs 69, to Rs 5,810 per five quintal with an open interest of 16,185 lots.

The contracts for delivery in January traded higher by Rs 68, or 1.17 per cent, at Rs 5,879 per five quintal as open interest stood at 39,690 lots. Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.