Compiled 02/07/12 6:00 AM (CT) Statistics: London Gold Fix $1,720.00 +$3.00 LME Copper Stocks 320,000 tons -3,150 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The bulls in silver can probably claim that silver is less vulnerable to long liquidation than gold, given the relatively smaller long positioning in the last COT report. At least at the start of the Tuesday trading session, the bear camp looks to have an edge, as the entire metals complex is tracking lower and most outside market factors are initially favoring the downside tilt. Like gold, silver needs to see a shift in sentiment toward the Euro zone situation and a return to more of a risk-on vibe. The bear camp for its part continues to suggest that the last two weeks consolidation pattern is a sign that silver prices might have become too expensive and that some buyers are starting to back away as a result of high prices. Therefore the last two week's low of $32.93 might be seen by some as a key pivot point in the coming trading sessions. Comex Silver Stocks were 130.896 million ounces up 33,801 ounces. Comex Silver Stocks are now at the highest levels since 10/27/2008 and silver stocks have increased in 14 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) Asian equity markets were mixed to lower overnight, with Australian equity markets apparently disappointed by steady interest rate policy from the RBA. European equities were also weaker off slack corporate results and perhaps because of residual anxiety from the lack of a Greek debt deal. Economic news overnight was somewhat negative, with German December industrial output a disappointment to some economists. The US economic report slate is somewhat thin today, with weekly private chain store sales followed by a US Labor Department report on job openings and labor turnover for December. At mid day, the markets will see a US debt auction of 3 Year notes, with a US Consumer Confidence reading due out later on. At least to start it would seem like global equity markets are weak off Euro zone fears and the interest or lack of interest in the US Treasury auction at mid session, might be seen as a key measure of sentiment today for a number of markets.