Guar gum futures gain on spot demand

New Delhi: Guar gum prices on Wednesday gained Rs 205 to Rs 6,376 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 November delivery traded higher 3.32 per cent, or Rs 205, to Rs 6,376 per five quintal with an open interest of 42,040 lots.

The contracts for delivery in December rose by Rs 202, or 3.24 per cent, at Rs 6,445 per five quintal as open interest stood at 10,795 lots.

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