Compiled 04/25/12 6:00 AM (CT) Statistics: London Gold Fix $1,641.50 +$2.50 LME Copper Stocks 256,400 tons -475 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) June gold has started out marginally below yesterday's close but up significantly from the Tuesday lows. While it would not seem like there is a definitively up beat risk on vibe in place this morning, US stocks are making noted gains, the Euro is higher and portions of the world economy were cheered by solid earnings results from Apple. It is also possible that gold and other physical commodity markets saw some support from higher Chinese mainland equity market action overnight which in turn was supposedly the result of talk that the PBOC might be poised to cushion a sector of their economy. While the initial gains in gold today are somewhat disappointing, especially in the face of more positive action in silver and platinum prices, there was apparently some fresh support for gold prices overnight from talk of late increase of festival demand in India. Expectations for festival Indian demand have been held low this year, because of the jewelers strike and also because of ideas that gold prices were vulnerable to more declines ahead. News that US gold coin sales demand has been soft so far this month, would also seem to mirror the lack of strong interest for gold in India ahead of a festival period. However, gold prices do seem to be garnering some minor support in the lead up to the FOMC statement but the bull camp probably needs to see an ongoing commitment to low rates and perhaps even some indication that the Fed is leaning closer to action, than to an on-hold stance. While gold prices might react to the US durable goods data early today, the looming Fed news probably restricts the markets initial reaction to early US data flows. Comex Gold Stocks were 10.993 million ounces up 100 ounces. Stocks have declined 11 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) Equity markets in Asia were mixed overnight, with Hong Kong prices weaker and the Shanghai market tracking higher off rumors that the Chinese government might be poised to provide some fresh support to their housing sector. European markets were a little higher to start today, as UK GDP data provided a distraction to recent Euro zone debt issues. The US stock markets were showing definitive gains early this morning off supportive earnings from Apple last night and perhaps because of hope for something helpful from the FOMC later today. The US economic report slate today has an Advanced Durable goods result early that is generally expected to be higher and that report will be followed later on by a Fed Press Conference and the usual Fed statement release.