Precious metals moved moderately higher, supported by a weaker US dollar and a firm tone in global equity markets.
European Union political leaders have reached a consensus in regard with a permanent 500bn euro bailout fund, known as the European Stability Mechanism (ESM).
There was also concordance on a fiscal proposal that requires member nations to initiate rectifying measures when budget deficits exceed targets.
On Greece front, government has promised to avert the collapse of a second rescue package, promising that talks would be completed by this week.
Greek PM has stated that he would push for a bigger debt write-down by investors and deeper budget cuts by his government.
Private creditors are told to accept an average coupon of as low as 3.6% on new 30-year bonds, down from 4.25%.
Courtesy: IIFL
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