Conference Board Sees Contraction Into 2009

The Conference Board predicts that the negative growth rates for the U.S. economy in the third quarter will continue through the fourth quarter and into the first half of 2009, according to its economic forecast released Oct. 8.

The organization also predicted no improvement in the housing market before the first half of 2009 at the earliest and said housing prices may drop further, negatively affecting consumer spending over the next two quarters.

The Conference Board’s current forecast assumes that inter-bank lending will recover, and that investor and business confidence will gradually return as government measures take hold.

Spot Prices Per Ounce for Key Precious Metals
[at press time]

Gold $836.00
Silver $10.73
Platinum $1,000.00
Palladium $203.00