In the gold market, you're fighting never-ending higher yields. Now the talk is, they're here longer than you think. Why would you buy a non-performing asset (gold) that the Fed is attacking - not gold itself - but the inflation-based reasons to own gold behind it.
In terms of security, we're in a de facto war with China and Russia anyways. There's very little reporting on an incident on Saturday wherein Iranian speedboats and drones swarmed two U.S. Navy warships. Gold didn't even respond to it.
Big skirmishes could happen at any time. Russia, China testing Taiwan - you know it's going to happen. Gold's not responding. Normally gold responds. It's not. Inflation is too big of a story right now. Look at how it's marching itself lower, falling apart, basically.