Gold surged to a fresh record on Monday as turmoil in Iran and fresh legal pressure on the Federal Reserve drove investors toward safe‑haven assets. At 08:55 ET spot gold traded at $4,618.85 per ounce, after briefly touching $4,620.33, while U.S. futures nudged toward $4,629. The Iranian unrest, which has left more than 500 dead in anti‑government protests, raised fears of a wider regional clash after Tehran warned it could target U.S. bases if President Donald Trump intervenes.

In Washington, the Justice Department served the Fed with grand‑jury subpoenas tied to Chair Jerome Powell’s Senate testimony, reviving concerns over central‑bank independence. The move, combined with softer December jobs numbers—50,000 fewer hires than expected and an unemployment rate of 4.4%—weakened the dollar and bolstered bullion demand. Precious‑metal cousins rallied as well: silver jumped over 7% to a new high, platinum rose 3.6%, and copper futures hovered near record levels.

Analysts at Investing.com warn the rally may persist if geopolitical and policy uncertainty continues.