Perhaps the Greek crisis won't come back after all and Mr Schauble will play nice from now on?
Perhaps China creating money to give to private companies to buy their own shares is perfectly fine?
Perhaps that ISIS lot will just toodle-pip off and those nice Iranians won't sponsor global terror anymore?
Perhaps Mr Putin is fed up with his picnic in Ukraine and is about to leave for home?
All of these things must be true to an extent if we are to believe market signals. The price of Gold has fallen to near $1000 an ounce, a five year low. Looked at historically, since the Brown Bottom, gold is still 4x higher than 2002, but of late the price has really cratered. China and the Oil Producing countries have been stocking up on supplies sold by European countries and new supply from Africa and Russia - they are less likely in the future to buy more gold so the price is declining. Also India has put on strong restrictions against gold hoarding which has been a challenge in its economy for hundreds of years (i.e. wealth is stored and not productively invested).
But longer term a low gold price suggests the preachers of economic doom are at a low ebb, with the world economy recovering still and has a bit of growth left in it yet.
I won't be buying into a contrarian bet soon - perhaps if the price reaches below $900 will be the time to consider it....certainly I did well in 2008 buying at $600 an ounce but that that time buying anything would have seen strong returns over the next few years.