Here's an article on Reuters. Potential market impact of a Greek default

Likely the value of the dollar will increase, so oil and gold prices will drop some. If the European stock markets take a big dip, many investors will have a second chance to make lots of money by getting in after the drop. They only need to look at the drop and recovery of the U.S. stock market to see a tremendous opportunity to make lots of money.

Of course, if they have their money in gold, they'll have to sell it to take advantage of this rare opportunity. As with any commodity, the risk of holding gold is that the market price may drop. Being Gold's value is primarily as a hedge investment, once investors feel they can make a lot of money in the markets they'll get out of gold and they know that once the price starts to drop it will drop fast and far, which will turbo-charge the sell off. Maybe I'm wrong, but you only need to look at housing prices over the last 20 years to see that this is what a bubble looks like.

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