Guar seed prices increased by Rs 53 to reach Rs 6,188 per quintal in futures trading on Monday, driven by heightened investor speculation.

On the National Commodity and Derivatives Exchange, guar seed contracts for September delivery increased by Rs 53, or 0.86 per cent, reaching Rs 6,188 per quintal, accompanied by an open interest of 48,585 lots.

Market participants indicated that increased investor speculation, even in the face of declining spot prices, bolstered guar seed futures contracts.