Compiled 09/08/11 6:00 AM (CT) Statistics: London Gold Fix $1,827.00 -$17.00 LME Copper Stocks 465,275 tons +25 SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market has also managed a somewhat impressive bounce off the prior session's lows and the trade has managed that in the face of slightly adverse currency market action and modest strength in global equity markets. Silver seems to be taking its direction from gold, which in turn seems to be unafraid of a tamping down of macro economic anxiety in the wake of the President's speech tonight. Others are suggesting that the $3.12 an ounce break in December silver, from the recent high to the low yesterday, has corrected an overdone technical condition in silver, while others think that the upcoming stimulus offering will eventually add to inflationary forces. While silver prices might react to the US scheduled data today, the primary focus might be tied to the mid day Fed Chairman speech and the President's speech tonight. Comex Silver Stocks were 103.071 million ounces up 179,407 ounces. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia were mixed during overnight trading, stock indices in Europe are generally stronger this morning. Early indications are that US equity markets will open close to unchanged levels later on today. The US Dollar is slightly stronger against most of the major currencies this morning. President Obama will propose a new jobs plan during a speech in front of a joint session of Congress this evening. An official newspaper has reported that the Chinese Yuan will become basically convertible by 2015. Japanese Machinery Orders during July were down 8.2%, weaker than expectations. The German Trade surplus during July was 10.1 billion Euros, lower than market forecasts. The Bank of England will announce their decision on UK monetary policy at 6:00 AM. The European Central Bank will announce their decision on Euro zone monetary policy at 6:45 AM. Major US economic numbers to be released this morning will include the July Trade Balance and Weekly Jobless Claims at 7:30 AM. In addition, Feb Chairman Bernanke will give a speech during the session.