Compiled 03/06/12 6:00 AM (CT) Statistics: London Gold Fix $1,685.50 -$12.50 LME Copper Stocks 283,575 tons -2,250 tons Shanghai Copper stocks +5,401 tons to 221,487 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) The bear camp has to feel like they have a technical edge to start today, as April gold has forged a fresh downside breakout overnight and in turn the gold market has reached the lowest level on the charts since January 25th. The gold market could be seeing some fresh pressure from news of lower gold flows from Hong Kong into mainland China for the month of January, especially since some traders might link that story with disappointing Chinese growth targets for 2012. Another issue that is seemingly applying some pressure to gold prices is talk of further slowing in Euro zone manufacturing. With US stocks also showing noted weakness to start today, the risk off vibe might be given a front and center standing, especially with the US scheduled economic report slate today nearly empty. In fact, it could be very difficult to alter the weak global economic outlook, with only private weekly US chain stores sales figures due for release. Adding into the bear's case is minimally adverse early currency market action. Comex Gold Stocks were 11.415 million ounces down 45,954 ounces. Gold stocks have declined 12 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) Asia equity markets were lower overnight, with some slight gains seen in the New Zealand equity market. Slowing global growth fears and classic profit taking action seemed to be in control of the Asian markets overnight. European equity markets were also weaker overnight because of sagging growth views, but there was also some residual fear toward Greece, as there were rumors swirling overnight of a delay in the coming debt swap deadline, but those rumors were officially denied. US equity markets were under rather noted downside pressure early on today and since that weakness comes on the heels of a large slide yesterday, there has probably been some damage on the equity market charts this morning. The US economic report slate today is thin, with weekly chain story sales figures the primary economic news flow of the day. The markets will potentially see some impact from the US political front today as the GOP selection battle passes another major milestone.