Guar Gum Prices Surge Amid Increased Speculations
Guar gum prices surged by Rs 259 to Rs 10,586 per quintal in futures trade on Thursday. This increase was driven by heightened speculator activity in response to robust spot demand. On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery saw a 2.45% rise with an open interest of 315 lots.
- Country:
- India
Guar gum prices surged by Rs 259 to Rs 10,586 per quintal in futures trade on Thursday, attributed to increased holdings by speculators amid strong spot demand.
On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery showed a significant uptick of Rs 259, or 2.45%, reaching Rs 10,586 per quintal, with an open interest of 315 lots.
Analysts indicated that this upward trend was driven by traders' increased bets, reflecting firm trends in physical markets.
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