Guar gum futures gain on spot demand

New Delhi: Guar gum prices on Thursday gained Rs 30 to Rs 6,196 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 October delivery traded higher by 0.49 per cent, or Rs 30, to Rs 6,196 per five quintal with an open interest of 11,385 lots.

The contracts for delivery in November rose by Rs 39, or 0.63 per cent, at Rs 6,272 per five quintal as open interest stood at 40,635 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to the rise in guar gum prices.