Gold prices spurted Rs 63 to Rs 28,963 per 10 gram at the futures trade as speculators raised their bets after the precious metal climbed to a one-month high in global markets.

At the Multi Commodity Exchange, gold for delivery in June rose Rs 63 or 0.22 per cent to Rs 28,963 per 10 gram in a business turnover of 338 lots.

Also, the precious metal for delivery in August was trading higher by Rs 34 or 0.12 per cent at Rs 29,100 per 10 gram in 123 lots.

Analysts said rally in gold prices in the global market, where it surged to a one-month high, influenced gold futures here.

Besides, pick up in buying by local jewellers and covering-up short positions by speculators also supported the upside, they said.

Globally, the yellow metal rose 0.09 per cent to $1,267.80 an ounce in Singapore.