Consumer Apprehension Increases

To further the information on the consumer's confidence that we spoke of yesterday, a study in the business section of a local newspaper , The Oklahoman, says consumer's are losing faith in our economy. We hear reports from the government that we are really improving, but this independent study says other wise. The Conference Board's Consumer Confidence Index fell to a six month low of 60.8 from a revised 66.00 in April. A sign of the toll that high gas prices, a choppy job outlook and a moribund housing market are taking it's toll. Head economist had expected this figure to rise to 67.00. “Consumers are considerably more apprehensive about future business and labor market conditions as well as their income prospects.” Lynn Franco, director of The Conference Board Consumer Research Center stated fears of inflation that had eased in April picked up again in May. As we head into the summer vacation season for many of the key players in the gold and silver business, keep in mind it's a good time to buy because of the record highs may happen right after the summer. I would suggest continuing to buy as much as you can in a disciplined fashion. Take advantage of these prices cause a month ago you would have had to buy silver at $50 an ounce when now it is $38.04 an ounce.