On January 12, 2026, MCX silver prices achieved a significant milestone, hitting a record high of ₹271,352 per kilogram. Concurrently, gold prices on the Multi-Commodity Exchange (MCX) also saw a substantial increase, jumping over 2.65% to reach ₹142,500 per 10 grams, compared to their previous close of ₹138,819 per 10 grams. This surge in precious metals was largely attributed to a confluence of global factors, prominently featuring heightened geopolitical tensions due to intensifying protests in Iran. Another critical driver was the revelation that the US Justice Department had issued grand jury subpoenas to the Federal Reserve, related to Chair Jerome Powell's congressional testimony on the renovation of the Fed's headquarters. This development led to a retreat in the US dollar and spurred safe-haven demand, as investors sought security in traditional assets like gold and silver amidst political uncertainty and growing distrust in monetary institutions. Multiple credible sources, including Mint, DD News, and Swastika Investmart, corroborated these price movements and the underlying global events influencing the Indian commodity market. The news highlights how international political and economic developments directly impact commodity prices in India, making it a crucial update for the Indian audience. The record highs signal significant market volatility and investor response to global uncertainties.