The gold price in British pounds has bounced off its lows as the Bank of England raised the Bank Rate by 50 basis points and continued to signal its commitment to bring inflation back down to its 2% target. The 50-basis point move, which pushes U.K interest rates to 2.25%, was in line with market expectations. Gold against the pound continues to trade in negative territory but has managed a small bounce off its lows in initial reaction. Spot gold priced in sterling last traded at £1,475 an ounce down 0.58% on the day. The BoE while maintaining its focus on inflation, said that uncertainty around energy prices have ... (full story)