Compiled 02/02/11 6:00 AM (CT) Statistics: London Gold Fix $1337.00 -$.50 LME Copper Stocks 393,775 tons -150 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) While March silver did manage a fresh new high for the move overnight and in the process the market reached the highest level since January 20th, the silver market was unable to hold in positive ground. Apparently supportive currency market action was of little consequence this morning, as the Euro reached up to the highest level since November 9th in the early Wednesday trade. The bull camp will suggest that the market was able to claw out fresh new highs for the move again and that highlights some renewed buying interest. However, the silver market continued to see evidence of redemptions in silver derivative instruments overnight. However, silver was seeing weakness in copper and platinum prices this morning and that would seem to suggest that physical commodity markets are set to enter the Wednesday US trade somewhat off balance. Comex Silver Stocks were 103.416 million ounces down 1,164,019 ounces. Comex Silver Stocks are at the lowest levels since 09/25/2006. Silver stocks have declined 13 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 near unchanged levels this morning. The Dollar is slightly weaker against most of the major currencies during overnight trading. President Mubarak has decided not to run for re-election, and will relinquish power after the September elections but that hasn't apparently appeased the protestors. Cyclone Yasi is heading directly for Northeast Australia, and is expected to affect areas recovering from flooding earlier in the year. The German Auto Associations is projecting 3 million new car registrations this year. The Euro zone PPI during December was up 0.8%, higher than expectations. US economic numbers to be released this morning include private surveys of US mortgage applications and private employment estimates released during the session.