Geopolitical winds and my gold portfolio

• •I started really loading up on gold in my IRA back in the mid-2000s, especially after retiring from the Navy.
• •Saw enough volatility in my career to know that a solid hedge is non-negotiable.
• •We're talking a significant chunk of change – probably close to $500k of my roughly $3.5m portfolio is in gold and related assets.

Been seeing a lot of chatter lately about how global events aren't impacting gold as much as they used to, and honestly, it's making me scratch my head a bit. With everything brewing in Eastern Europe, the South China Sea, and even some of the internal rumblings in various major economies, I would have expected a more pronounced flight to safety. My portfolio, which is about 15% physical gold and some mining ETFs, has held steady but hasn't exactly rocketed upwards like I'd anticipated given the headlines.

I started really loading up on gold in my IRA back in the mid-2000s, especially after retiring from the Navy. Saw enough volatility in my career to know that a solid hedge is non-negotiable. My financial advisor in Norfolk initially suggested a 10% allocation, but I pushed it closer to 15% given my comfort with the asset class and the long-term outlook. We're talking a significant chunk of change – probably close to $500k of my roughly $3.5m portfolio is in gold and related assets. Frankly, I'm happy with the general discipline it brings, but this current market inertia has me wondering if my traditional understanding of gold as a crisis hedge needs some recalibration.

Am I missing something fundamental here? Is the sheer volume of digital assets or even the bond market now diluting gold's role as the primary safe haven? Or are these geopolitical tensions not actually as severe in the eyes of institutional investors as they appear on my morning news briefs out here in Virginia Beach? Would be interested to hear what some of you more active traders or even long-term holders are observing and how you're adjusting your strategies.