Fail: Gold can't even rally on a currency crisis

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Gold, the world's oldest currency and the most basic store of wealth, used to be where the world turned when times got rough.

But after a Greek referendum that put the future of the euro in question and an equity bear market in China, bullion has barely budged.

was little changed through midday Monday after jumping immediately after the Greek "no" vote in overnight trading. Gold is now down almost 2 percent for 2015 and virtually unchanged over the last one month amid these financial shocks.

In the past, when a country got ready to abandon a currency, gold typically would fill that void.