I believe the global markets are panicking related to Trump's pending inauguration and the fact that the US Fed may have to keep interest rates elevated through a US austerity process.
If you understand what this means, you'll clearly see why the US Dollar is trading above 106 and why Gold/Silver have moved downward recently.
The process of the US moving into smaller government with potentially $1.?T in excess capital means the US would move into a dynamic BEAST of a global economy. Able to pay down debt, restructure government agencies to become more efficient and lean, while pushing global economies closer and closer to having to clean up their own mess.
This is what I call the Predatory Fed.. and will likely prompt some very big price moves over the next 4-5+ years.