Compiled 09/23/11 6:00 AM (CT) Statistics: London Gold Fix $1,730.00 -$35.00 LME Copper Stocks 464,550 tons -1,525 Shanghai Deliverable stocks were 102,253 tons -9,808 GOLD MARKET FUNDAMENTALS: (6:00 AM CST) While December gold technically forged a new low for the move overnight, the gold market initially seemed to reject that downside probe. Some bulls are relieved with the initial modest equity market bounce overnight, but those gains weren't definitive and fully sustained. A story overnight on the potential for European Central bank gold sales, just ahead of the end of the annual deadline, might have fostered some concern in the gold market overnight, but recently the gold market has discounted classic supply side developments in favor of tunnel vision on the investment demand side of the equation. Since gold has generally tracked in a positive correlation with equities recently, up beat talk from G20 attendees today might be something that supports gold. In fact, gold does seem to be at least partially pressured recently by expanding fears of slowing and therefore seeing the prospect of support for the Euro zone situation, might cushion gold against what seems to be a downward bias on its charts. In fact, given the volatility this week and the damage on the charts, it is possible that December gold will view Thursday's low of $1,723.20 and a critical pivot point in the early Friday morning US trade action. Comex Gold Stocks were 11.365 million ounces down 44,832 tons. Comex Gold stocks are at the lowest in the past 10 readings. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia were generally weaker 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 lower against most of the major currencies this morning. G20 nations pledged to take all steps necessary to calm global markets at their meeting this week in Washington. The Chinese Foreign Ministry stated that letting the Yuan gain value alone would not solve the US/China trade imbalance. A survey of French Business Sentiment during September was at 99, lower than expectations. A survey of French Consumer Confidence during September was at 80, lower than market forecasts. There are no major US economic numbers to be released this morning. However, Fed Regional Presidents Dudley and Williams will give speeches during the session.