Gold prices ruled steady at the bullion market here today on muted offtake by jewellers and investors even as the metal prices weakened overseas. In contrast, silver slumped by Rs 135 to Rs 37,825 per kg, driven down by reduced demand from industrial units. Standard gold (99.5 per cent purity) closed at overnight level of Rs 29,490 per 10 gram. Pure gold (99.9 per cent purity) also settled at its previous level of Rs 29,640 per 10 gram. Silver (.999 fineness) slumped by Rs 135 to conclude at Rs 37,825 as compared to Rs 37,960 previously.