Gold prices rebounded by Rs 50 to close at Rs 29,490 per 10 gram at the bullion market here today on fresh buying by local jewellers amid a firm trend overseas. Silver prices also staged a recovery, climbing Rs 310 to Rs 37,960 per kg on the emergence of buying by industrial units. Standard gold (99.5 per cent purity) moved up by Rs 50 to end at Rs 29,490 per 10 gram from Wednesday's close of Rs 29,440.