The central banks hike the interest rate for curbing inflation and this
increase the currency yields and its attractiveness which can decrease the
liquidity and curb investment to cool the economy for fighting inflation
which can reduce the value of gold and its value as a hedge of inflation
can keep the value of the wealth.

It is important to wait the recent MPC meeting minutes this week as it can
show us the degree of inflation worries in UK and how far we are close to
another tightening. It is widely expected to be hawkish which can underpin
the pound this week till the release of the minutes.