Compiled 09/07/11 6:00 AM (CT) Statistics: London Gold Fix $1,844.00 -$47.00 LME Copper Stocks 465,250 tons -125 GOLD MARKET FUNDAMENTALS: (6:00 AM CST) The gold market has come off its highs from the prior trading session and to this morning's lows, the December gold contract was trading as much as $105 an ounce below the Tuesday high. Some traders suggested that the magnitude of losses from the recent highs has in turn prompted knock on or follow through selling of a technical nature. Apparently hope for help from the US in the form of an additional stimulus package has also tamped down macro economic uncertainty and that in turn might have caused some weak handed longs to exit. The gold market might also have taken exception to comments from the Minneapolis Fed President yesterday, who suggested that any additional easing would only add to inflationary pressures and wouldn't actually help the US economy. The trade is also suggesting that gold saw very aggressive liquidation pressure in Asia overnight and that probably leaves some longs very anxious in the Wednesday US morning trade. The gold market probably saw an additional setback off news that a German high court upheld the 1st Greek rescue effort even though the court seemed to put up additional approval requirements for future rescue deals. More than likely, the gold market wasn't specifically undermined by news that African Barrick announced plans to double its gold output over the next 12 years, as that supply side news is probably considered to be well over the current horizon. Comex Gold Stocks were 11.585 million ounces up 1,349 ounces. Stocks have increased 11 of the last 20 days. Comex Gold stocks are at their highest levels in the past 10. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia and Europe were generally stronger during overnight trading, early indications are that US equity markets will open with moderate gains later on today. The US Dollar is weaker against most of the major currencies this morning. A German Constitutional Court has rejected a lawsuit that would have blocked German participation in Euro zone debt bailouts. Australian GDP during the second quarter was up 1.2%, higher than forecasts. UK Industrial Production during July was down 0.2%, lower than expectations. The Bank of Canada will announce their decision on Canadian monetary policy at 8:00 AM. The Federal Reserve will release their latest edition of The Beige Book at 1:00 PM. Major US economic numbers to be released this morning will include private surveys of store sales and weekly mortgage applications released during the early trade.