Compiled 09/28/11 6:00 AM (CT) Statistics: London Gold Fix $1,655.00 -$16.00 LME Copper Stocks 466,675 tons -725 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) The gold market saw positive action overnight as the general upward track in gold prices from earlier this week seems to have remained in place. The press picked up on favorable demand signals from India overnight, where the premium of gold bars reached up to some of the highest levels of the last 12 months. However, support off hope of rising Indian festival demand was at least partially countervailed by predictions of further weakness in gold and silver prices from an official at the Bombay Bullion Association. In other words, the rather sharp correction in gold for the second half of September, might be yielding some bargain hunting buying at a time when seasonal demand is also expected to firm in India. Apparently gold needs a risk on mentality and hope for an avoidance of a global recession to rally and that line of thinking could be presented with a very critical decision into the coming German vote on the leverage Euro zone bailout fund issue. With an initial rise in US equities this morning and generally positive European equity market action overnight, the outlook for gold and other physical commodity markets seems to have remained mostly positive. While scheduled US data flows today aren't expected to give a definitive track on the direction of the US economy, seeing a slightly positive reading from US Durable goods might be something that favors the bull camp in gold this morning, as anything that tamps down the threat of recession and deflation tends to benefit gold and commodities. Comex Gold Stocks were 11.365 million ounces down 957 ounces. Stocks have declined 11 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia were mixed during overnight trading, stock indices in Europe are generally weaker this morning. Early indications are that US equity markets will open close to unchanged levels later on today. The US Dollar is moderately stronger against most of the major currencies this morning, although losing ground to the Japanese Yen. Inspectors from the IMF, EU, and ECB will return to Greece this morning to look at that nation's progress with austerity measures. Major US economic numbers to be released this morning include August Durable Goods at 7:30 AM, and a private survey of mortgage applications released before the opening. In addition, Fed Chairman Bernanke will give a speech after the close. The second leg of the Treasury's refunding, the 5-Year Note auction, will have results announced at 12:00 PM.