Compiled 08/11/11 6:00 AM (CT) Statistics: London Gold Fix $1,786.00 +$32.25 LME Copper Stocks 463,150 tons -875 tons GOLD MARKET FUNDAMENTALS: (6:00 AM CST) While the fear toward the Euro zone debt crisis remains imbedded in market sentiment, gains in German stocks and a higher US equity market indication this morning could dampen some of those fears this morning. While the gold market hasn't paid that much attention to classic supply and demand news lately, the gold trade could garner some support today, from overnight news that South African gold production in June, declined by almost 6% from last year's output levels. To some analysts it is very surprising that the sharpest price rise in history seems to have had little impact on gold production levels, in one of the world's most important production areas! The gold market might have been partially undermined by an increase in gold margins, but the market didn't show that much of a backlash. It is also possible that action in the currency markets or action in equities could give some pause to the gold bulls this morning. As usual the gold market continues to see a wide range of price forecasts floated, with some analysts and traders predicting a spike to $2,500 an ounce and others calling for a massive sell off! Given the domination of the flight to quality story line, it could take something very significant to fully derail the bull track. Comex Gold Stocks were 11.345 million ounces up 5,914. Stocks have declined 13 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CST) While equity markets in Asia were mixed during the overnight session, stock indices in Europe are generally stronger this morning. Early indications are that US equity markets will open with substantial gains later on today. The US Dollar is weaker against most major currencies this morning, although posting gains versus the Swiss Franc and Pound. There are reports that China may have reduced their target for public home construction next year by 20%. Turkey announced a ban on short-selling stock, joining Greece and South Korea to become the third major market to do that this week. Japanese Machinery Orders during June were up 7.7%, higher than market expectations. The final leg of the Treasury's refunding, the 30-Year Bond auction, will have results announced at 12:00 PM. Major US economic numbers to be released this morning include the June International Trade balance and Weekly Jobless Claims at 7:30 AM