Geopolitical impact on gold - anyone else feeling this?

• •Man, between Ukraine, the Middle East flaring up, and now murmurs about Taiwan, it feels like we're living through a history textbook.
• •My gold holdings, which are a decent chunk of my 350k retirement portfolio, have been pretty interesting to watch.
• •My dad always preached about legacy assets, and gold always felt right for that long-term play.

Man, between Ukraine, the Middle East flaring up, and now murmurs about Taiwan, it feels like we're living through a history textbook. My gold holdings, which are a decent chunk of my 350k retirement portfolio, have been pretty interesting to watch. I got into this game about five years ago, wanting something tangible outside the typical market swings, especially with the bourbon industry being so tied to consumer confidence, which can be fickle. My dad always preached about legacy assets, and gold always felt right for that long-term play.

I feel like every time some new headline drops, there's a knee-jerk reaction in the gold price. Sometimes it's up, sometimes it feels like it just shrugs. It's not a consistent spike like you'd expect from "safe haven" rhetoric. I remember when the initial sanctions hit Russia, and I thought for sure gold would go parabolic. It had a bump, but nothing crazy. Then again, the recent Israel-Hamas conflict seemed to give it more of a push. It makes me wonder if certain geopolitical events carry more weight than others, or if it's all just a big, complicated dance with inflation and interest rates.

I've been using tools like the Gold vs Stocks Comparison to try and put some of these movements in context, especially over the last 10 years, and it's fascinating to see how gold's performed against the S&P 500 through various global crises. It's a useful way to step back from the daily headlines and look at the bigger picture. I'm based in Lexington, and a lot of the old money here talks about gold being the ultimate hedge against uncertainty, but how much does geopolitics really influence your approach to gold investing?

Are any of you adjusting your allocations based on global events, or just holding steady? Is the "safe haven" narrative still as strong as it used to be, or are we seeing a more nuanced market now? Would love to hear some perspectives, especially from those who've been in this space longer than my ~5 years.