Compiled 09/21/11 6:00 AM (CT) Statistics: London Gold Fix $1,810.00 +$18.25 LME Copper Stocks 466,950 tons +25 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) The gold market has peaked out above the prior session's high overnight, as the trade looked to be drafting support from upcoming US Federal reserve action to head off entrenched slowing. Gold probably saw some support from news that the BOE in their recent meeting minutes were close to providing additional easing measures, especially since that news is enhanced by the proximity to the FOMC statement this afternoon. Apparently a group of GOP Congressmen have sent a letter to the Fed warning against additional easing, as they think that QE2 didn't seem to help the economy and they are also concerned about implementing measures that could ultimately be difficult to remove from the marketplace. With many markets widely anticipating the Fed's twist operation announcement, the magnitude of the program might have to be robust, for reality to live up to expectations. While gold is showing some initial positive action this morning, news that Greece is preparing to release new austerity measures, could be seen as a limiting development, as that suggests Greece and EU officials are still working together on a solution to that debt crisis. The bear camp continues to point to a pattern of lower highs and a loss of upside momentum, while the bull camp sees this month's slide as a necessary technical balancing. Comex Gold Stocks were 11.410 million ounces down 128 ounces. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia were mixed during overnight trading, stock indices in Europe are generally higher this morning. Early indications are that US equity markets will open with moderate gains later on today. The US Dollar is slightly weaker against most of the major currencies this morning. There are reports that Greece may have agreed to front-load austerity measures in order to secure additional bailout funds. The Bank of England indicated that they were more likely to pump additional funds into the UK economy at their monetary policy meeting earlier this month. The Japanese Trade deficit during August was 775 billion Yen, a larger deficit than projections and due in large part to a 19.2% rise in imports over last year's levels. UK Public Sector Borrowing during August was 13.2 billion Pounds, higher than expectations and the highest ever for the month of August. The Federal Reserve's Open Market Committee will conclude a 2-day meeting today, with an announcement on US monetary policy at 1:15 PM. Major US economic numbers to be released this morning include a private survey of Existing Home Sales at 9:00 AM, and a private survey of mortgage applications released before the opening.