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"We need some fine tuning (Gold monetisation scheme)," RBI Governor Raghuram Rajan told reporters.
Brent crude had dropped 4 cents to $45.42 per barrel by 08:10 am, after settling down 71 cents at $45.46 in the previous session.
While Moscow may consult OPEC oil ministers before their six-monthly meeting next week, the chances of it helping to halt the price slide remain slim.
Bullion traders said emergence of buying by jewellers to meet ongoing wedding season demand and a firm global trend mainly led to recovery.
More pressure on bullion is expected as investors exit positions in the metal ahead of the looming US rate hike.
Investors believe higher rates could dent demand for non-yielding bullion, while boosting the dollar.
Gold price rose by another Rs 80 to Rs 25,820 per ten grams at the bullion market tracking a firm global trend.
Data on Wednesday showed that US manufacturing output rose well above economists' expectations in October, while business spending plans surged.
Analysts say US crude was also boosted by a fall in oil rigs, a sign that drillers were waiting for higher prices before returning to the well pad.
US commercial crude oil stocks likely gained 1.1 million barrels for the week ended November 20.
Silver slipped below the Rs 34,000-mark by falling Rs 225 to Rs 33,800 per kg on reduced offtake by industrial units and coin makers.
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