ECB announced decrease of interest rates. Low interest rates are bullish for PM however there is a lot of newcomers (speculative money and safe heaven seekers) in PM who have no idea why PM go up. This is why PM spiked down, some of these newcomers are going now back to stocks.
SNB announced pegging CHF to EUR this is also very bullish for PM because people will sell CHF and buy PM. Remember when CHF skyrocked in August? Imagine now that next time when markets will get bad economic data people won't buy CHF they will buy PM!
We have to be very carefull when QE3 will be officially annonuced it's bullish for PM but it a short run it can cause the same results as ECB interest rates lowering.