New Delhi, January 12, 2026:

Gold and silver futures surged to fresh record levels in domestic and international markets on Monday as investors moved decisively towards safe-haven assets amid mounting geopolitical tensions and growing unease over developments involving the U.S. Federal Reserve.

On the Multi Commodity Exchange (MCX), gold futures for February delivery jumped ₹2,431, or 1.8%, to touch an all-time high of ₹1,41,250 per 10 grams. The yellow metal has gained over 2.25% in the past week alone. Silver futures also witnessed a sharp rally, with the March contract rising ₹11,271, or 4.46%, to hit a lifetime high of ₹2,63,996 per kilogram, extending last week’s strong momentum.

Global bullion markets mirrored the rally. On Comex, gold for February delivery climbed $111.8, or 2.5%, to reach a record $4,612.7 per ounce, while silver for March delivery surged $4.56, or 5.8%, to a historic high of $83.90 per ounce. Market participants attributed the rally to heightened concerns surrounding the U.S. Federal Reserve after federal prosecutors reportedly launched a criminal investigation related to the central bank’s renovation project.

Analysts said worries over the Fed’s independence, coupled with a weaker dollar index hovering near 99.03, boosted bullion prices. Rising geopolitical risks, including possible U.S. military action against Iran and escalating tensions in Ukraine following reports of a new Russian missile strike, further amplified market uncertainty, pushing investors toward gold and silver as preferred safe-haven assets.

Gold, Silver Touch Lifetime Highs as Global Turmoil Sparks Safe-Haven Buying

Gold and silver futures scaled fresh record levels on Monday, January 12, 2026, as investors rushed towards safe-haven assets amid intensifying geopolitical risks and growing uncertainty surrounding the U.S. Federal Reserve. Concerns over global stability and monetary policy pushed precious metals sharply higher across markets.

On the Multi Commodity Exchange (MCX), gold futures for February delivery surged ₹2,431, or 1.8%, to hit an all-time high of ₹1,41,250 per 10 grams, extending last week’s strong gains. Silver futures also witnessed a sharp jump, with the March contract climbing ₹11,271, or 4.46%, to reach a lifetime high of ₹2,63,996 per kilogram.

Internationally, bullion prices mirrored the domestic rally. Comex gold for February delivery rose 2.5% to a record $4,612.7 per ounce, while silver surged nearly 6% to touch a historic peak of $83.90 per ounce. Analysts linked the rally to unease triggered by a U.S. federal probe involving the Federal Reserve and its chair, which has raised questions over policy stability.

A weaker dollar, coupled with escalating global tensions — including unrest in Iran and renewed conflict in Ukraine — further fuelled demand for safe-haven assets. Market experts said the convergence of political, economic, and geopolitical uncertainties has strengthened the appeal of gold and silver among investors worldwide.