Bloomberg Daybreak Asia Podcast • Browse all episodesBloomberg Daybreak Asia: Gold Rally, BOJ Rate Hike Dilemma
Gold hit a record high just below $4,000 an ounce as the US government shutdown, a wobble in technology stocks, and political shake-ups in Japan and France buoyed demand.
Bullion rose as high as $3,999.41 an ounce, before paring some gains. December futures in New York — the most active contract — surpassed $4,000 for the first time on Tuesday. For more, we spoke to by Bill Adams, Chief Economist at Comerica Bank.
Plus, Bank of Japan Governor Kazuo Ueda will likely face a tougher political environment in the second half of his five-year term starting Thursday after the ruling party leadership victory of Sanae Takaichi, a critic of interest rate increases. Ueda already faces a dilemma. The central bank appeared to be laying the groundwork for its first interest rate hike since January later this month. Now, following Takaichi’s win, if Ueda goes ahead with an increase he risks antagonizing a premier who might then seek more sway over the BOJ’s decisions going forward. For more, we spoke to Bloomberg’s Paul Jackson.
Oct 08, 2025