Guar gum futures prices surged on the National Commodity and Derivatives Exchange (NCDEX) due to increased speculative buying driven by firm spot demand.
New Delhi, Jan 19 (PTI) Guar gum prices on Friday increased Rs 11 to Rs 10,771 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand.
On the National Commodity and Derivatives Exchange, guar gum contracts for February delivery traded higher by Rs 11 or 0.10 per cent at Rs 10,771 per five quintals with an open interest of 51,570 lots.
Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.
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