There has been an almost nirvana backdrop for gold appreciation through March, and the improved investment case has offered tailwinds which have seen spot gold trade into $2009.

It's already a historic start to the week and there seems so much to play for as we enter another headline-driven market – the big news is that UBS has acquired Credit Suisse for CHF3b, and after much deliberation, we see a powerhouse Swiss bank in the making.

This week’s Bank of England decision is an intriguing one, coming at a time not only of mounting concern over the health of the global financial system, but also at a juncture where the MPC have been growing increasingly divided over the appropriate course of action. Consequently, the chances of a surprise are high, and the prospects for increased volatility in UK assets are also lofty.