Compiled 03/01/11 6:00 AM (CT) Statistics: London Gold Fix $1414.50 +$4.75 LME Copper Stocks 420,275 tons -725 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) While gold prices managed to rise in Asia overnight, prices were somewhat softer in India and that seems to have dampened some of the initial strength in the early US Tuesday gold trade. With the calendar shifting to March and the March 11th day of protest in Saudi Arabia looming, the bull camp in gold can probably expect the flight to quality or safe haven bid to remain a fixture in the gold market over the coming two weeks of trade. Gold might also be drafting off favorable Euro zone manufacturing readings and ongoing talk of rising inflation levels in the UK. However, inflation views aren't expected to be fanned significantly by the US Fed Chairman testimony to Congress today because the trade generally expects the Fed head to discount the near term threat of inflation and in turn suggest that QE2 should continue. In short, the Middle East and inflation views look to dominate sentiment in the gold market in the short term and that could mean that US scheduled data is of limited influence on gold prices. At least in the early Tuesday trade, it would appear that the focus of the trade will be watching a build up of pro-Gaddafi forces, as the situation in Libya moves toward some form of end game. Comex Gold Stocks were 11.075 million ounces down 1,293 ounces. Stocks have declined 14 of the last 20 days. Comex Gold stocks are at the lowest level in the past 10 trading sessions. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia were mixed during overnight trading, stock indices in Europe are generally stronger this morning. Early indications are for the US stock market to open today's session with moderate gains. The Dollar is slightly weaker against most of the major currencies during overnight trading, although posting a gain against the Yen. An official of the Libyan government said that nation's oil production has been cut in half during the current revolt. The European Commission has raised growth estimates for the EU during the rest of 2011, but also warned of the potential for rising inflation in the region. The Royal Bank of Australia kept interest rates unchanged at their monetary policy meeting today. The official Chinese Purchasing Managers index for February fell to 52.2, above market forecasts but the lowest overall reading since last August. Japanese Unemployment during January was 4.9%, in line with expectations. Euro zone Unemployment during January was 9.9%, lower than forecasts. German Unemployment during February fell to 7.3%, lower than forecasts. Major US economic numbers to be released this morning include January Construction Spending and a private survey of US Manufacturing at 9:00 AM, and private surveys of store sales and auto sales will be released during the session. In addition, Fed Chairman Bernanke will give a monetary policy report to the Senate Banking Committee at 9:00 AM.