Liquidation and Capitulation, or Not?

Either Gold and Silver started a new downleg within the larger decline from their July highs at $1375.63 and $21.17, towards a revisit of their January lows at $1100-$1085, and at $15.30-$14.80, or these vicious, USD-inspired, vertical liquidation spikes represent final selling capitulations within a deep, late-stage July-Dec correction in the aftermath of the Jan.-July "bull runs."

We should find out in the hours immediately ahead... All eyes on the USD.