India, July 10 -- Gold futures rebounded by Rs 1,038 to Rs 1.44 lakh per 10 grams on Thursday after opening lower in domestic markets as value buying aided the rally, ending a three-session decline despite escalating tensions in West Asia.

On the Multi Commodity Exchange, gold futures for August delivery appreciated by Rs 1,038, or 0.72 per cent, to Rs 1,44,749 per 10 grams in a business turnover of 10,018 lots.

Traders said bargain hunting at lower levels lifted the precious metal after its recent correction, while a weaker US dollar also lent support to prices.

"However, prices were capped on the upside as renewed US-Iran tensions fuelled inflation concerns, strengthening expectations that the US Fed could keep interest rates higher ...