Gold prices slumped on Thursday, after central banks left interest rates unchanged, amid concerns that the Iran conflict could drive inflation higher. The Bank of England (BoE) kept its rate at 3.75% on Thursday, with the central bank warning that inflation will be higher in the “near term” due to the shock from higher energy prices. BoE governor Andrew Bailey said: “War in the Middle East has pushed up global energy prices." “You can already see that at the petrol pump and, if it lasts, it will feed into higher household energy bills later in the year." He said that the bank had kept interest rates on hold as it ... (full story)