Resolved: XRMToolbox - Metadata contains a reference that cannot be resolved: 'https://disco.crm11.dynamics.com/XRMServices/2011/Discovery.svc?wsdl&sdkversion=9'

I had a fresh installation of Windows 10 OS on my machine and downloaded the latest version of XRM Toolbox. I had got the below error when I tried to connect to the CRM Organization.

Error : Metadata contains a reference that cannot be resolved: 'https://disco.crm11.dynamics.com/XRMServices/2011/Discovery.svc?wsdl&sdkversion=9'.
Stack Trace : at System.ServiceModel.Description.MetadataExchangeClient.MetadataRetriever.Retrieve(TimeoutHelper timeoutHelper)
   at System.ServiceModel.Description.MetadataExchangeClient.ResolveNext(ResolveCallState resolveCallState)
   at System.ServiceModel.Description.MetadataExchangeClient.GetMetadata(MetadataRetriever retriever)
   at Microsoft.Xrm.Sdk.Client.ServiceMetadataUtility.RetrieveServiceEndpointMetadata(Type contractType, Uri serviceUri, Boolean checkForSecondary)
   at Microsoft.Xrm.Sdk.Client.ServiceConfiguration`1..ctor(Uri serviceUri, Boolean checkForSecondary)

Solution: It turned out to be a network proxy issue. Follwed below steps:
1. Go To XRMToolbox => Settings
2. Switch to 'Proxy' tab.
3. Selected 'Use Internet Explorer configured proxy' from the dropdown.
this resolved the issue 'Metadata contains a reference that cannot be resolved'

Hope this helps someone :)