Compiled 01/05/12 6:00 AM (CT) Statistics: London Gold Fix $1,614.50 +$11.50 LME Copper Stocks 368,400 tons -750 SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The divergence between gold and silver continued overnight as silver was unable to rise above the prior session's high, while gold temporarily managed another higher high probe. Some silver bulls are discouraged by silver's lack of flight to quality sensitivity to the Iranian situation recently and other silver bulls are simply disappointed with the markets lack of upside action in the face of generally positive macro economic vibes. In short, silver hasn't been able to benefit from either flight to quality issues or strong economic vibes and that in retrospect has seemingly resulted in a rather definitive peak on the charts from earlier this week. Therefore, technical traders might feel like they have a chart edge in silver and it could take a really definitive risk-on bias to roust silver from a vulnerable track. While the silver market hasn't paid that much attention to classic physical supply side developments recently, a pattern of builds in exchange stocks could be a factor that is emboldening the bear camp. In fact, Comex Silver Stocks yesterday were placed at 119.106 million ounces for a rather significant single day gain of 1,779,692 ounces. Comex Silver Stocks are now at the highest levels since 06/15/2010 and silver stocks have increased in 15 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) Equity markets in Asia were stronger overnight but they did fade into their closes. European stocks this morning were generally weaker, while US equity markets were positing moderate losses to start the Thursday US trading session. The US Dollar has started out higher against the euro and it was also strong against the rest of the currencies. Overnight the market saw generally favorable Euro zone economic readings and it would seem like the French debt auction was carried out without too much overall anxiety. In looking ahead, the markets will see a series of private employment readings, a private layoff report, weekly claims figures from the US and an ISM Non Manufacturing data point. Also due out during the session today are more private chain store sales readings for the month of December. In general, market expectations seem to expect positive economic data flows from the US this morning.