Indian gold prices steady on global leads

MUMBAI, Jan 17 (Reuters) - Gold futures in India were almost steady with a negative bias on Friday, in line with overseas leads and a stronger rupee.

* The most-active gold for February delivery MAUc1 on the Multi Commodity Exchange (MCX) was lower 0.12 percent at 28,999 rupees per 10 grams at 1104 GMT.

* Silver for March delivery MSVc1 on the MCX was 0.06 percent higher at 44,570 rupees per kg.

* Global gold was holding steady, but was headed for its first weekly drop in four weeks as a string of U.S. data showed more strength in the recovery of the world's largest economy, dimming the metal's safe-haven appeal. Href="NewsSearch">GOL/

* The rupee, which traded stronger on Friday, plays an important role in determining the landed cost of the dollar-quoted yellow metal. Href="NewsSearch">INR/

* Premiums stayed steady at $120 an ounce on London prices amid weak demand, said Bachhraj Bamalwa, director at the All India Gems and Jewellery Trade Federation.

* Indian gold imports may have fallen 70 percent in the final quarter of 2013 from 255 tonnes in the year-ago period. They are expected to be half the usual levels at 500-550 tonnes in 2014 if new import rules are maintained. News Search ID:nL5N0JL2N5

* To curb a rising trade gap, the Indian government slapped a record import duty of 10 percent and tied imports for domestic consumption with exports.

* Following were the prices of gold and silver in rupees as of 1615 local time in the spot market, quoted by Corporation Bank:

Friday Thursday

==========================================

Gold .999/10 grams 25,654 25,594

Silver .999/kg 40,134 38,128

(Reporting by Siddesh Mayenkar; Editing by Prateek Chatterjee)

((siddesh.mayenkar@thomsonreuters.com)(+91-22-61807163)(Reuters Messaging: siddesh.mayenkar.thomsonreuters.com@reuters.net))

Keywords: MARKETS INDIA PRECIOUS/