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October 7, 2025 19 mins

Gold keeps hitting all-time highs, and no sober talk about speculation or productivity has stopped it. Today on the show, Rob Armstrong and Katie Martin take stock of the frenzy. Also they go short the yen and long Japanese stocks. 


For a free 30-day trial to the Unhedged newsletter go to: https://www.ft.com/unhedgedoffer.


You can email Robert Armstrong and Katie Martin at unhedged@ft.com.


Read a transcript of this episode on FT.com


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