Gold hitting all-time highs against British pound as BoE raises interest rates to 14-year high of 4.00%
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“The labour market remains tight and domestic price and wage pressures have been stronger than expected, suggesting risks of greater persistence in underlying inflation,” the BoE said in its statement. The gold market is seeing some broad momentum against many currencies. Which has driven prices to record highs against the pound. Spot gold prices last traded at $1,587.38 an ounce, up 0.79% on the day.
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