Compiled 09/20/11 6:00 AM (CT) Statistics: London Gold Fix $1,792.00 -$25.00 LME Copper Stocks 466,925 tons -2,200 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market has shown some recovery action overnight and most traders contribute the action this morning to the recovery in US equities. Like gold, silver continues to see supportive price forecasts from the trade, but given the most recent price forecasts floated, it is clear that some analysts expect flight to quality anxiety to be the primary driver of precious metals prices. In order to throw off the corrective track that has generally controlled silver and gold since the early September highs, probably requires a return to an inverse relationship between metals and equity prices. Perhaps hopes for fresh quantitative easing moves from the US Fed later this week will provide some support to silver prices over the coming 36 hours of trade. Many traders continue to express concern of technically related follow through selling and therefore yesterday's lows could be considered technically significant in the Tuesday and Wednesday US trade action. Comex Silver Stocks were 104.705 million ounces down 91,784 ounces. 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 gains later on today. The US Dollar is slightly weaker against most of the major currencies this morning. A major credit ratings agency downgraded Italy's sovereign debt one level, and maintained a negative outlook for that nation. Greece may be close to a deal with the IMF, EU and ECB to extend further bailout funds. German PPI during August was down 0.3%, weaker than expectations. A private survey of German economic sentiment during September was -43.3, higher than some forecasts. The Federal Reserve's Open Market Committee begins a 2-day meeting this morning, which was extended by 1 day to allow for additional discussion of issues. Major US economic numbers to be released this morning include August Housing Starts and Permits at 7:30 AM, and private surveys of store sales released during the session.