Compiled 08/24/11 6:00 AM (CT) Statistics: London Gold Fix $1,850.00 -$36.00 LME Copper Stocks 463,925 tons -1,250 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market has started the Wednesday US trade in the lower quarter of the prior session's trading range and that seems to have given the bear camp hopes of a technical failure on the charts. Silver has seemingly tightened its correlation with gold recently and therefore silver traders should be watching critical close in pivot points on the gold charts this morning. As in the gold market, the silver trade is expected to take some direction from the US durable goods release this morning, as that report has the potential to increase macro economic uncertainty, or it could reduce uncertainty and prompt a risk on rotation away from precious metals instruments. Comex Silver Stocks were 105.916 million ounces down 286,611 ounces. Silver stocks have increased 13 of the last 20 days. Up trend channel support off the August 9th through present recovery wave is seen today at $41.43 in the December silver contract and some traders might view that level as a key pivot point. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia were generally lower during overnight trading, stock indices in Europe have posted gains this morning. Early indications are that US equity markets will open with moderate losses later on today. The US Dollar is currently weaker against most of the major currencies this morning. Libyan leader Muammar Gaddafi has abandoned his headquarters in the capital city of Tripoli. A major credit ratings agency has lowered their rating for Japanese sovereign debt, due to high levels of debt and an uncertain political situation. A private survey of German business sentiment during August was 108.7, weaker than expected. Euro zone Industrial Production during June was down 0.7%, lower than projections. The second leg of the Treasury refunding, the 5-year Note auction, will have results announced at 12:00 PM. Major US economic numbers to be released this morning are July Durable Goods at 7:30 AM, and a private survey of mortgage applications released before the opening.