Guar gum futures gain on spot demand

Guar gum prices on Tuesday gained Rs 103 to Rs 6,200 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 by 1.69 per cent, or Rs 103, to Rs 6,200 per five quintal with an open interest of 1,550 lots

The contracts for delivery in January traded higher by Rs 60, or 0.97 per cent, at Rs 6,235 per five quintal as open interest stood at 51,980 lots. Analysts said after tracking firm physical market trend, traders raised their bets which led to the rise in guar gum prices.