Gur futures gains on increase buying

Gur prices surged by Rs 16.20, or 1.54 per cent, to Rs 1,070 per quintal in futures trading today on increased buying by speculators in line with a firming trend in spot market.

Marketmen said less arrivals due to adverse weather conditions amid pick up in demand in spot markets, mainly led to a rise here in futures prices of gur.

At the National Commodity and Derivatives Exchange counter, gur delivery for September shot up by Rs 16.20, or 1.54 per cent, to Rs 1,070 per quintal, with an open interest of 21,600 lots.

January contract also went up by Rs 4.20, or 0.48 per cent, to Rs 882 per quintal, with an open interest of 1,270 lots.