New Delhi, Dec. 11 -- Gold prices made a strong rebound in Thursday's session, December 11, after remaining in a tight range over the last few trading sessions, as demand for safe-haven assets received a boost following the US Federal Reserve's quarter-point rate cut.

This marked the Fed's third reduction of the year and brought the policy rate to its lowest level in more than three years.

The February futures contract on MCX opened higher at Rs.1,30,250 per 10 grams, compared to the previous close of Rs.1,29,796.

By 8:30 PM IST, MCX gold was trading Rs.1,159, or 1.12%, higher at Rs.1,34,243 per 10 grams. The spot gold price also edged higher, rising 0.20% to $4,234 per ounce.

The gold market is witnessing renewed momentum as the Fede...