Compiled 06/12/12 6:00 AM (CT) Statistics: London Gold Fix $1,589.25 -$3.75 LME Copper Stocks 239,550 tons +4,350 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) As suggested already the gold market started out weaker today and in the lower half of the prior session's trading range. While Asian investors weren't overly upbeat off the latest financial solution to the European debt crisis, European and U.S. stocks did manage to claw into positive ground in a fashion that seemed to suggest some hope that a Bad Bank solution might serve to reign in the latest financial turmoil. However, some players see the initial weakness in gold prices this morning, as a sign that safe haven interests have been tamped down again but seeing gold slide in the face of stronger equities and a minimal risk-on tilt has to be discouraging to the portion of the bull camp that has recently banked on a lift from an eventual global recovery and perhaps from the prospect of inflation from years of central bank stimulus. In fact, at least one analyst overnight predicted near term gains in gold prices, in the face of fresh central bank action directly ahead, while other sources simply touted Asian gold mining shares as a current value. The bulls might have been emboldened by news of a pick up in investment flows into some gold derivative shares in the latest weekly figures. At least in the early going today, the gold market was seeing minimal support from the currency markets, but with the rest of the metals complex weaker and many physical commodity markets down to start the Tuesday US trade, the outside market influence on gold prices wasn't exactly positive. Comex Gold Stocks were unchanged at 11.008 million ounces. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) Chinese stocks were weaker overnight, as investors discounted recent slightly better than expected Chinese data and it also seemed as if Asian investors were apparently looking ahead to the upcoming Greek election with some concern. However, European equities were slightly higher early today as the trade was attempting to play up the latest solution to the EU debt crisis, with a bad bank approach. Early US equity market action was minimally higher, as the hope for a tighter fiscal union in the EU was seen as a fresh positive for the troubled Euro zone. The US report slate is somewhat active today, but most of the data is 3rd or 4th tier data, from 3rd party independent sources like the small business optimism index, a couple of weekly private chain store sales reports, the IBD consumer confidence index and a monthly US Treasury Budget statement.