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It can come across as archly crass to speak of hard-nosed money and number matters at times like these so let's state for the record, my heart goes out to Brussels today and I spit on the ignorant terrorist scum who murder for their ignorant dogmatic views.
It is said, now for another harsh fact: Gold has shown, time and time again, that geopolitical terror actions have a fleeting effect on its market price. Again today:
Which begs the question, if gold is "the fear trade", then what does it truly fear? Think about it enough and there's only one answer that ticks all the boxes; a weak US Dollar.
Semi-OT: It therefore stands to reason that the correlation to gold and uranium is tighter than one might expect, just limit yourself to the uranium used in the US nuclear weapons arsenal.