Just as in the song written by Luther Dixson, and sung by the Shirelles in 1961, “Mama said there’ll be days like this.” US equites are trading under tremendous pressure, with the Dow Jones Industrial Average down over 200 points.

For the fourth consecutive day, gold prices have closed higher, now trading to a 2 ½ week high. Gold futures today rose roughly 3 dollars to close at $1233 per ounce.

This was a most interesting week as members of the Federal Open Market Committee concluded their meeting on Wednesday. As expected, they announced the decision to raise their benchmark rates by 25 basis points.