Gold is lower in dollars but higher in euros and has reached new record highs in pounds sterling at £958.25/oz. Gold is being supported by strong and increasing demand internationally.
Sterling has fallen after the BoE minutes raised concerns of further quantitative easing and currency debasement. The Bank of England looks increasingly likely to maintain its ultra accommodative monetary policies. Interest rates may continue to remain at multi century lows and the BoE is again considering more printing of money to buy government debt.