Gold prices have reached an all-time record high, surpassing $4,600 per ounce on January 12, 2026, driven by a confluence of significant global geopolitical and economic uncertainties. Spot gold notably peaked at $4,601.17 an ounce, with U.S. Gold Futures advancing to $4,612.04/oz. A primary catalyst for this surge is the escalating unrest in Iran, marked by deadly anti-government protests and warnings from Tehran of potential retaliation against U.S. military bases if President Donald Trump intervenes. This has significantly increased demand for safe-haven assets. Further fueling market anxiety is the U.S. Justice Department's threat of a criminal indictment against the Federal Reserve. Fed Chair Jerome Powell confirmed grand jury subpoenas over his Senate testimony, a development widely interpreted as an escalation of President Trump's efforts to pressure the central bank into lowering interest rates, thereby raising concerns about the Fed's independence. Additionally, disappointing U.S. jobs data for December, which showed slower-than-expected growth in nonfarm payrolls, has bolstered expectations for further interest rate cuts in 2026. These factors, coupled with ongoing U.S.-Venezuela tensions, have intensified the flight to safety among investors. The rally extends beyond gold, with silver also achieving new record highs above $84.5 per ounce, indicating a broader uptrend in precious metals. This global phenomenon has significant implications for financial markets worldwide, including India, where gold and silver prices have similarly soared.