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Guar gum futures gain on spot demand

New Delhi,Guar gum prices on Tuesday gained Rs 50 to Rs 6,554 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 0.77 per cent, or Rs 50, to Rs 6,554 per five quintal with an open interest of 15,955 lots.

The contracts for delivery in December traded higher by Rs 49, or 0.74 per cent, at Rs 6,635 per five quintal as open interest stood at 38,205 lots.

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