Here's something I've learned thru the school of hard knocks.
Fearful Bearish Sentiment + Absence Of New Bad News => Relief Rally.
So, when things are really scary (as they have been recently with all the Euro news), the market does not need good news to pop. Nothing need be fixed. The mere absence of scary headlines is enough for a significant market pop.
That's why we got the pop today in things like the stock market, commodities, etc. Gold is pretty heavily manipulated so it doesn't perfectly follow this rule, but I think that it too is popping because of the absence of bad news plus a really scared gold community.