Compiled 09/02/11 6:00 AM (CT) Statistics: London Gold Fix $1,854.00 +$38.50 LME Copper Stocks 466,075 tons +1,450 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market comes into the Friday US trade with a bullish vibe that was probably largely attributed to the strength in gold prices overnight. Like gold, silver seems to be factoring in a disappointing reading from the US and therefore the scheduled data window this morning should be a major event. The bull camp suggests that a weaker than expected data point will fire up recession fears and in turn give credence to QE3 from the US Fed. While silver did see some evidence of rising silver supply this week, the market seems to be focused instead on investment demand views and therefore silver prices are probably going to trade off the ebb and flow of macro economic uncertainty. Like gold, to really deal the bull camp in silver a solid blow, probably requires a non farm payroll gain above the range of expectations, as that might be the only result that could effectively dampen macro economic uncertainty in the current marketplace. Comex silver stocks overnight declined by more than 1 million ounces, but with overall silver stocks still holding above 100 million ounces, the trade probably doesn't see much in the way of guidance from the one day decline in silver stocks. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia were mixed during overnight trading, stock indices Europe were mostly weaker this morning. Early indications are that US equity markets will open moderately lower later on today. The US Dollar is stronger against most of the major currencies this morning, although posting a loss versus the Swiss Franc. Euro zone PPI during July was up slightly, while Germany posted some impressive gains in new car registrations for the month of August. UK data from Construction PMI was weaker than the prior month and in turn managed to fall to the lowest levels of 2011. Major US economic numbers to be released this morning include August Non-Farm Payrolls, August Private Payrolls, August Unemployment Rate, August Average Earnings and August Average Workweek at 7:30 AM.