Gold hits record $4,600 as Fed independence questioned on Jan 12, 2026

Gold surged to a record $4,600 on January 12, 2026, as investors sought safety amid doubts about the Federal Reserve's independence. According to the article, Chair Jerome Powell said the DOJ sent grand jury subpoenas to the Fed tied to a $2.5 billion headquarters project. The dollar slipped about 0.3%, stock futures fell, and silver jumped more than 5%.