On Monday, January 12, 2026, the price of gold remarkably breached the $4,600 per ounce mark for the first time in history, establishing a new all-time high. This unprecedented surge in the precious metal was primarily propelled by a confluence of significant political and geopolitical factors, coupled with shifting monetary policy expectations. A major driver behind the rally was an escalating 'Powell-Trump rift,' specifically a criminal investigation reportedly launched against Federal Reserve Chair Jerome Powell concerning his congressional testimony, which Powell characterized as a 'pretext' stemming from ongoing pressure from Donald Trump's administration to lower interest rates. This extraordinary development created substantial uncertainty regarding the Federal Reserve's independence, triggering a widespread flight to safe-haven assets like gold. Further contributing to the heightened safe-haven demand were intensifying geopolitical tensions globally. Reports indicated potential U.S. military actions in Iran amidst widespread protests, and continued U.S. assertive stances in regions like Venezuela. These global flashpoints elevated risk aversion among investors, directing capital towards gold. Additionally, weaker-than-expected U.S. jobs data for December strengthened market expectations for multiple interest rate cuts by the Federal Reserve in 2026. Lower interest rates reduce the opportunity cost of holding non-yielding assets such as gold, making them more attractive to investors. This momentous event was widely reported by numerous credible financial news outlets, including Reuters, CNBC, ET Now, and Investing.com, underscoring its significance in global financial markets.