RE:Gold touching 1350 this A.M.Geopolitical events ( such as US/ Iran) rarely keep gold up for a long time, rather they pass as fast as the headlines of them. If the straights are closed off, then it becomes a long term financial event that boosts gold or puts an already weak Europe into a recession, which facilitates "money printing" the true basic cause of gold going up.
Remember N Korea a year ago, gold rose at the peak of harsh words on both sides, but that gain soon retreated.
Gold will go up this year, with or without Iran, N Korea, Turkey, China trade war. The deficeit this year will be over 1.5 $trillion (US). Actually, in a greater sense, gold is not going up, but the dollar and other fiat currencies are going down.
Sanders or Warren being elected president would do more for raising the price of gold than any non nuclear war over in Iran. Gold bottomed out while we (US) had Iraq and Afghanistan going at the same time.