Compiled 08/10/11 6:00 AM ( CT ) Statistics: London Gold Fix $1,753.75 -$16.25 LME Copper Stocks 464,025 tons -675 tons SILVER MARKET FUNDAMENTALS: (6:00 AM CT) The silver market continues to under perform relative to gold prices. Some traders attribute that to silver's industrial background and others suggest that investors simply favor gold as the primary safe haven instrument. The bear camp is pointing to a pattern of lower highs on the charts this week, as a sign of weakness in silver, but the bull camp in silver suggests the Fed's promise to support the US economy serves to firm up support around the $37.50 level on the charts. With the BOE cutting its growth forecasts overnight and the US Fed reducing its US economic outlook, traders can understand the recent weakness in silver and other industrial metals markets. With some rather lofty gold price projections floated from various sources again overnight, it is possible that silver is deriving some support from further expectations of investment demand for the yellow metal. With the spike down move yesterday, September silver at times was trading at the lowest level since July 13th and therefore some traders are watching for technical stop loss selling pressures in the event that yesterday's lows are violated. Comex Silver Stocks were 105.473 million ounces up 178,533 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 stronger during the overnight session, early indications are that US equity markets will open slightly lower later on today. The US Dollar is weaker against most of the major currencies this morning, although posting a large gain versus the Swiss Franc. A spokesman for the German government stated that there was no need to increase the European debt rescue fund as it currently is far from being exhausted. The Bank of England indicated that UK inflation will fall rapidly next year due to a weaker global economy. The Chinese Trade surplus during July was $31.5 billion, above market forecasts. German CPI during July was up 2.4% year-on-year, in-line with expectations. French Industrial Production during June was down 1.6%, weaker than forecasts. The second leg of the Treasury's refunding, the 10-Year Note auction, will have results announced at 12:00 PM. Major US economic numbers to be released this morning include June Wholesale Trade at 9:00 AM, and a private survey of mortgage applications released before the session.