Compiled 08/23/11 6:00 AM (CT) Statistics: London Gold Fix $1,886.50 +$8.75 LME Copper Stocks 465,175 tons -1,275 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market did manage a fresh new high for the move overnight but the market has been unable to hold all of the overnight gains into the US Tuesday morning trade. News of lower silver production from a UK silver miner overnight wasn't given much attention, as the focus of the silver market remains on investment demand instead of the prospect of tighter supply. Given the tight correlation between gold and silver of late, it is likely that gold's reversal this morning exerted some spillover pressure on silver prices. Like gold, silver will be very interested in Fed dialogue directly ahead, as the hope for additional easing from the US Fed has become a force in the metals markets over the last several trading sessions. Therefore scheduled US data flows later this morning, are likely to have a knock on impact on silver prices. Comex Silver Stocks were 106.272 million ounces up 577,246 ounces. Silver stocks have increased 13 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia and Euro were generally higher during overnight trading, early indications are that US equity markets will open with substantial gains later on today. The US Dollar is currently weaker against most of the major currencies this morning. While rebel forces have control of most areas in the Libyan capital of Tripoli, fighting continues between loyalist and opposition forces. A private survey of Chinese manufacturing during August was 49.3, higher than market expectations. A private survey of Euro zone manufacturing during August was 49.7, in-line with forecasts. A private survey of German economic sentiment during August was -37.6, much weaker than expectations. The first leg of the Treasury refunding, the 2-year Note auction, will have results announced at 12:00 PM. Major US economic numbers to be released this morning are July New Home Sales and the Richmond Fed manufacturing survey at 9:00 AM, and a private survey of store sales released during the session.