Compiled 01/19/11 6:00 AM (CT) Statistics: London Gold Fix $1373.75 +$5.00 LME Copper Stocks 381,750 tons +3,825 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The March silver contract has managed a fresh new high for the move in the overnight action and in the process the market reached the highest level since January 13th. Silver is probably garnering some lift from the sharp gains in platinum and the rise in gold prices, but it is also possible that a weaker Dollar provided an added measure of buying in the overnight trade. British listed Hochschild Mining PLC pegged their annual silver output last year at 26.4 million ounces, but also suggested their 2011 production target would only be 22.5 million ounces. Silver continues to see favorable press coverage, with recent stories pointing to an ongoing expansion of industrial demand in Asia and other stories suggesting that Indian's appetite for alternatives to gold, will continue to expand. It is possible that ongoing gains in the wheat market could provide some additional support to silver, as wheat prices are a very important world food staple and rising wheat prices yesterday elicited reactions from Algeria, Turkey and France. Comex Silver Stocks were 104.363 million ounces down 46,643 ounces. Silver stocks have declined 11 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia were generally higher during overnight trading, stock indices in Europe are mixed this morning. Early indications are for the US stock market to open slightly lower this morning. The Dollar is weaker against most of the major currencies during overnight trading, although posting a small gain versus the Pound. Chinese President Hu Jintao has arrived in the US for a State Visit. The chief economist for the Bank of Japan stated that the Japanese economy will begin to rebound by the middle of this year. Greece has denied reports that they are in negotiations to restructure their debt. UK Unemployment during November was 7.9%, in line with forecasts. US economic numbers to be released this morning include the December Housing Starts at 7:30 AM, and several private surveys of store sales and mortgage applications released during the session.