Guar gum futures gain on spot demand

New Delhi: Guar gum prices on Tuesday gained Rs 37 to Rs 6,410 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 by 0.58 per cent, or Rs 37, at Rs 6,410 per five quintal with an open interest of 7,075 lots.

The contracts for delivery in December rose by Rs 50, or 0.77 per cent, at Rs 6,511 per five quintal as open interest stood at 47,850 lots.

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