Statistics: London Gold Fix $1,777.25 +$1.25 LME Copper Stocks 223,450 tons -700 tons

SILVER MARKET FUNDAMENTALS: (6:00 AM CT) Silver this week appears to be tracking tightly with gold instead of platinum and copper prices and that in turn seems to suggest that the ebb and flow of additional US easing prospects could continue to be the main focus of the silver trade. Therefore the markets view of the scheduled data flows later this morning could set the tone for the entire trading session. However, private jobs estimates look to paint a positive economic picture early this morning while the ISM Non Manufacturing report is expected to be a touch weaker and therefore the silver market will have to decide which US data point is more important.

In the early going today, silver is benefiting from higher gold and Euro action, but with most physical commodity markets showing early weakness and the US equity markets simply waffling around both sides of unchanged early on, there doesn't look to be a definitive theme in place to start the Wednesday US trade. It is possible that a noted downside breakout in a key silver derivative instrument yesterday has discouraged some silver buyers as declining investment interest toward silver could be seen as a red flag.

Comex Silver Stocks were 142.850 million ounces up 300,708 ounces.

OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) Hong Kong shares managed a slight rise overnight, while mainland China markets remained closed for holiday. Europeans shares started out weaker today, despite minimally supportive news of a minor gain in Euro zone retail sales figures for the month of August. Apparently European investors are still a little disappointed with Spain's ongoing opposition to a bailout. US stocks were virtually unchanged this morning in the early going but the initial trade did seem to favor the downside.

The US trade today will be looking ahead to the first Presidential debate tonight and the markets will also see the beginning of a series of private jobs reports this morning, but that news will be accompanied by an ISM Non Manufacturing report which is generally expected to weaken.

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