Compiled 09/14/11 6:00 AM (CT) Statistics: London Gold Fix $1,829.00 +$23.00 LME Copper Stocks 466,775 tons +775 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) Like gold, silver continues to forge a positive correlation with the equity market and that in turn suggests the flight to quality angle has been temporarily shelved. While the silver market saw long term forecasts of higher physical silver production from a miner in Peru overnight, the silver market isn't tightly tuned to the supply side of the equation. In other words, the ebb and flow of demand remains the focal point of the silver trade and in a strange twist, demand is expected to weaken in the face of equity market declines. The silver market this morning sits almost in the middle of the last month's consolidation, but moderately above the middle of the last two months consolidation and to some that suggests silver prices are a little expensive. For the action today, silver is likely to take a lot of direction from US equities, which in turn are likely to take their direction from the US retail sales report. Comex Silver Stocks were 103.136 million ounces down 949,566 ounces. Silver stocks have declined 11 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 higher this morning. Early indications are that US equity markets will open with moderate losses later on today. The US Dollar is stronger against most of the major currencies this morning. The head of the European Commission stated his organization would offer proposals for the introduction of Euro Bonds. Two of the largest French banks were downgraded by a major credit rating agency this morning. UK Unemployment during July was 7.9%, in-line with expectations. Euro zone Industrial Production during July was up 1.0%, lower than forecasts. Major US economic numbers to be released this morning include the August Producer Price Index and August Retail Sales at 7:30 AM, July Business Inventories at 9:00 AM, and a private survey of mortgage applications released before the opening. The final leg of the Treasury's refunding, the 30-Year Bond auction, will have results announced at 12:00 PM.