Compiled 02/11/11 6:00 AM (CT) Statistics: London Gold Fix $1359.00 +$0.25 LME Copper Stocks 396,725 tons -225 tons Shanghai Deliverable stocks were 144,197 tons +9,899 SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market has forged a quasi pattern of lower highs on the charts and with increased tensions in Egypt present in the headlines, it would seem like silver is set to behave like a physical commodity market and not a flight to quality instrument. However, investors have shown some renewed interest in silver derivative instruments and to some that could suggest the market has found some sort of value zone. With the March silver contract from the late January lows forging a very aggressive rally of $4.20 ounce, the technical traders are suggesting that the market needed some measure of technical balancing. However, weakness in copper and ongoing declines in equities would seem to leave the outside market environment for silver somewhat weak this morning. Like gold, silver appears to be vulnerable to Egypt and the market might not see much of a reaction to the flow of scheduled US economic readings. Comex Silver Stocks were 102.847 million ounces down 383,690 ounces. Silver stocks have declined 13 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia were mixed during overnight trading, stock indices in Europe are generally weaker this morning. Early indications are for the US stock market to open with moderate losses again today. The Dollar is stronger against most of the major currencies during overnight trading. President Mubarak of Egypt has transferred some of his powers, but continues to remain in office. News reports indicate that the Chinese central bank has begun to raise reserve requirements on some medium and smaller size domestic banks. In a surprise move, the central bank of South Korea kept their benchmark interest rates unchanged at their monetary policy meeting. German CPI during January was down 0.4%, in-line with expectations. UK PPI during January was up 1.0%, higher than forecasts. Major US economic numbers released this morning include the December International Trade Balance at 7:30 AM, and a private survey of US Consumer Sentiment just before 9:00 AM.