Interest Rates: Rising interest rates typically decrease bond prices, as new bonds offer higher yields, making older bonds less attractive.

Inflation: Higher inflation erodes the real value of future bond payments, lowering bond prices. Market expectations regarding future inflation are key.

Economic Growth: Stronger economic growth can lead to higher interest rates and inflation expectations, negatively affecting bond prices.

Monetary Policy: Actions by the Bank of England, such as quantitative easing or tightening, significantly influence bond yields and prices.

Credit Rating: A downgrade in the UK's sovereign credit rating would likely decrease bond prices, reflecting increased risk.

Global Events: Geopolitical instability or major global economic shifts can impact investor sentiment and demand for UK Gilts.

Supply and Demand: Increased issuance of new UK Gilts can increase supply and potentially lower prices, while higher demand drives prices up.