The reason is simple, the dollar factor still outweighs the safe haven factor for gold, and so as the dollar gained this morning, the upside for gold was stymied. Thus, it does appear the Greek Gods show no favor to gold.
So if we are talking about weight, or how something “outweighs” then you have to talk about oil, as the dollar is also tied to oil, and oil also outweighs the dollar, so together, oil and gold, outweighs the dollar.
So if you want to see stocks go bat-shit crazy, try replacing the dollar, which one could if you held the largest reserves of both gold and oil.
So, in that context, of being #1 in both gold and oil reserves, who is first in gold reserves, and do they have any oil?