Geopolitical impact on gold - my recent move and what's next?

• •Okay, so I’ve been watching the gold market like a hawk since I liquidated most of my tech startup shares last year.
• •On one hand, gold's been doing exactly what it's supposed to do: a safe haven.
• •I’ve seen my allocation tick up nicely while friends who stayed 100% in equities are looking a bit green around the gills.

Okay, so I’ve been watching the gold market like a hawk since I liquidated most of my tech startup shares last year. Moved a good chunk of that into a Gold IRA, roughly $2.5 million of my $3.8 million portfolio, the rest in some pretty stable real estate plays here in Dublin, OH. The idea was clearly capital preservation and a hedge against the kind of market volatility I saw during the dot-com bust, which frankly still gives me nightmares.

The recent geopolitical rumblings – the Middle East escalating, China's economic wobbles, and even the upcoming US election circus – have me feeling a mix of vindication and apprehension. On one hand, gold's been doing exactly what it's supposed to do: a safe haven. I’ve seen my allocation tick up nicely while friends who stayed 100% in equities are looking a bit green around the gills. It felt like a smart move then, and it feels even smarter now. But on the other, is this sustainable? Are we on the cusp of something truly nasty that even gold can't completely insulate us from?

I'm particularly interested in how these geopolitical shocks affect the dollar's strength relative to gold. If the global economy truly starts to fracture, do we see a scenario where gold decouples even more from traditional currency dynamics? My gut says yes, but my analytical brain is still trying to quantify that risk. I remember during the peak of COVID, the initial crash dragged everything down, even gold briefly, before it rebounded. Are we in for a similar initial shock if things really go sideways on the international stage?

For those of you who’ve been in physical gold or Gold IRAs for longer than I have, what are your thoughts? Are you increasing your positions, holding steady, or even rebalancing slightly given the current climate? Is there a point where geopolitical risk becomes so pervasive that even gold struggles to shine? I'm trying to think several moves ahead, as always, and would appreciate any insights from this community.