I could speculate,but already noted, that GRY tends to follow...

I could speculate,
but already noted, that GRY tends to follow the gold producers in a slugish manner.
Some, that followed the POG movement off its 1265 low, had already moved off their lows in the previous week, so theres a degree of catch up for GRY.

Theres also the argument, that rotation out of those already moved higher, into those still on the starting blocks. add to that, safer gold stock, that is not exposed to emmediate production pressures, if gold price retreats.

IF US QE continues, weak USD supports the POG, and when QE tapers, it will cause a rout in US equities, and market fear will drive the POG higher also.