Compiled 08/09/11 6:00 AM (CT) Statistics: London Gold Fix $1,770.00 +$60.25 LME Copper Stocks 464,700 tons -600 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market continues to diverge with the gold market, as the gold market seems to be head and shoulders above the rest of the metals markets, especially when it comes to flight to quality buying interest. Perhaps the silver market was partially undermined by news of a slight decline in silver derivative holdings overnight, or perhaps silver is simply being pressured by classic slowing fears. Therefore, silver might take a lot of direction from the FOMC statement later today and to a degree, the silver market might continue to take some direction from the action in the US equity markets. However, the bear camp might point to a lower high and lower low pattern early in the Tuesday trade action in the September silver contract as a bearish signal, especially if the FOMC statement later today fails to provide support to a broad cross section of physical commodity markets. Comex Silver Stocks were 105.295 million ounces down 1,981 ounces. Silver stocks have increased 12 of the last 20 days. OUTSIDE MARKET DEVELOPMENTS: (6:00 AM CT) While equity markets in Asia and Europe were generally weaker during the overnight session, early indications are that US equity markets will open with moderate gains later on today. The US Dollar is weaker against most of the major currencies this morning, although posting gains versus the Canadian and Australian Dollars. Greek authorities have banned short selling on the Athens stock exchanged for the next two months. Chinese CPI during July was up 6.5% year-on-year, higher than expectations. The German Trade surplus during June was 11.5 billion Euros, lower than forecasts. UK Industrial Production during June was unchanged, lower than market projections. The Federal Reserve's Open Market Committee will announce their decision on US monetary policy at 1:15 PM. Major US economic numbers to be released this morning include second quarter Non-Farm Productivity at 7:30 AM, and private surveys of store sales released during the session.