Compiled 03/01/11 6:00 AM (CT) Statistics: London Gold Fix $1414.50 +$4.75 LME Copper Stocks 420,275 tons -725 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) May silver prices have forged another new high for the move overnight and after out performing the gold market yesterday, the silver bulls seem to be riding a wave of bullish interest. Apparently the silver market isn't overly concerned with news of rising physical silver production from Australian ABARE overnight, who predicted a double digit rise in silver output for 2011-2012. However, the silver market has been focused on the prospect of rising investment demand, instead of focusing on physical supply, with some players suggesting that silver is poised to benefit from inflation at a greater level than gold prices. While the US Mint overnight suggesting that sales of US silver coins in February fell relative to rather robust January sales totals, the February silver coin sales were still the strongest readings for the month of February of the last 25 years. Generally favorable overnight equity market action and a weaker US Dollar suggest that outside market forces for silver are generally supportive. However, under control Chinese PMI readings overnight could dampen some of the upward bias in silver prices, as strong Chinese growth expectations have been a major component of strength in a host of industrial commodity markets like silver. Comex Silver Stocks were 102.549 million ounces down 378,386 ounces. Silver stocks have declined 12 of the last 20 days. 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 for the US stock market to open today's session with moderate gains. The Dollar is slightly weaker against most of the major currencies during overnight trading, although posting a gain against the Yen. An official of the Libyan government said that nation's oil production has been cut in half during the current revolt. The European Commission has raised growth estimates for the EU during the rest of 2011, but also warned of the potential for rising inflation in the region. The Royal Bank of Australia kept interest rates unchanged at their monetary policy meeting today. The official Chinese Purchasing Managers index for February fell to 52.2, above market forecasts but the lowest overall reading since last August. Japanese Unemployment during January was 4.9%, in line with expectations. Euro zone Unemployment during January was 9.9%, lower than forecasts. German Unemployment during February fell to 7.3%, lower than forecasts. Major US economic numbers to be released this morning include January Construction Spending and a private survey of US Manufacturing at 9:00 AM, and private surveys of store sales and auto sales will be released during the session. In addition, Fed Chairman Bernanke will give a monetary policy report to the Senate Banking Committee at 9:00 AM.