Ciena reported an earnings and revenue beat yesterday morning and analysts are optimisticThe shares of Ciena Group (NYSE:CIEN) are up 1.7% at $54.79 at last check, following a fresh round of bull notes one day after the company's second-quarter earnings. The communications and networking name has seen no fewer than three price-target hikes this morning, the highest coming from Cowen to $73 from $6...Read More

DocuSign's (DOCU) first-quarter profits and revenue were better than Wall Street anticipatedThe shares of DocuSign Inc (NASDAQ:DOCU) are up 1% to trade at $141.52, after reporting positive results in the earnings confessional yesterday evening. The company reported fiscal first-quarter profits of 12 cents on revenue of $297.02 billion, both of which were higher than analysts' estimates. .In resp...Read More

Zumiez reported first-quarter losses and revenue that missed analysts' estimatesThe shares of Zumiez Inc (NASDAQ:ZUMZ) are off 4.1% to trade at $28 this morning, following the apparel retailer's first-quarter report. Zumiez posted losses of 84 cents per share and $137.77 million in revenue, missing analysts' estimates. The firm declined to provide a current-quarter forecast at this time, but added...Read More

Vehicle production increased in Latin America during May, when compared with the all-time lows reported in April, but continued to represent a sharp year-on-year decrease while most plants remained closed or are just starting to reopen following Covid-related halts.Mexico, Brazil and Argentina are the region's top auto producing countries, Fastmarkets understands.MexicoMexican light vehicle output...Read More

The U.S. also surprisingly added jobs last monthFutures on the Dow Jones Industrial Average (DJI) are up nearly 600 points above fair value this morning, soaring after the U.S. Labor Department's May unemployment rate came in at 13.3%, much better than the anticipated 19.5% estimate.The report also showed that 2.5 million jobs were added last month, a surprise figure considering the expected loss...Read More

European distributors of flat steel products reported a 50.8% year-on-year drop in shipment volumes in April, Eurometal said on Thursday June 4.In first four months of 2020, shipments of flat steel products by European steel service centers decreased by 18.5% year on year. Eurometal does not disclose product volumes.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe ...Read More

DOWNSIDE POSSIBILITIES FOR GOLD PRICEThere is a correlation of gold’s increasing price relative to the declining value of the US dollar. The chart (source for all charts) below shows this inverse relationship clearly… Over time, as the US dollar continues to lose value, the price of gold continues to increase.  Seemingly, it would be worthwhile to just buy gold and wait for the i...Read More

Workers of Tata Steel Netherlands have voted in favor of industrial action to protest planned redundancies, trade union FNV Metaal said on Thursday June 4. Employees of Tata Steel's Dutch asset in IJmiuden are ready to go on strikes if Tata Steel fails to comply with their demands, according to FNV. "If the management of Tata Steel does not meet [our] requirements before Wednesday [June 10], we wi...Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 272,19653,16237,007108,654365,277417,857455,446 Change from Prior Reporting Period -15,9522,928-2,944-23,323-41,022-42,219-41,038 Traders 20260715556284161 Small Speculators LongShortOpen Interest 57,88820,299475,745 -1,410-2,591-43,629 non reportable pos...Read More

By: Ira EpsteinGold is in a correction, but strong supports in the $1,600's:Read More

The precious metals sector was likely to decline,and it did exactly that. And based on what we just saw, it’s likely to declineeven more.Once again, the situation yesterday and so fartoday developed quite in tune with what we wroteyesterday, so today’s analysis will take form of a broad update.Let’s take a look at the GLD ETF. In yesterday’s and Monday’s analyses, wed...Read More

Global aluminium billet premiums were unchanged but for a drop in Thailand, with spot demand battered due to the Covid-19 pandemic.Europe begins third quarter negotiationsUS premium static in lifeless spot marketBrazil premium flat amid weak spot interestWeak demand sinks premium in ThailandQ3 negotiations in Europe start with offers around $280-300/t Market participants throughout Europe have beg...Read More

The most important measure for an economy, its recoveryor advancement is employment - that is, the availability of good-paying jobs.  When citizens have jobs, they earn an income withwhich they can pay for their needs, and pay taxes to the government for itsneeds.  So jobs and income, are the keydeterminants of a healthy, modern consumer-driven economy.  Over the last several decade...Read More

The Covid-19 pandemic has highlighted the importance of regional supply chain security for critical materials like cobalt, the president and chief executive officer of First Cobalt said. According to Trent Mell, the increasing trend toward electric vehicles (EVs) has added to the impetus to ensure that a reliable and ethical supply of refined cobalt is available for use in batteries. "If the Covid...Read More

The uptake of batteries for energy storage is expected to soar between 2020 and 2030 in Europe, supporting the growth of flexible electricity assets while new renewable capacity ramps up in its key economies.Investments in green mobility and renewable sources of electricity are high on the agenda of the EU member states, to comply with energy transition targets.With sales of electric vehicles (EV)...Read More

Key data from the pricing sessions in Asia, Europe and the United States for the week ended Friday June 5.China The domestic market has stabilized while immediate availability of material has continued to be tight. The export market was unchanged, with an absence of trading activity....Read More

Gold COT Report - Futures Large SpeculatorsCommercialTotal LongShortSpreadingLongShortLongShort 272,19653,16237,007108,654365,277417,857455,446 Change from Prior Reporting Period -15,9522,928-2,944-23,323-41,022-42,219-41,038 Traders 20260715556284161 Small Speculators LongShortOpen Interest 57,88820,299475,745 -1,410-2,591-43,629 non reportable pos...Read More

The gold miners' stocks just rolled over into a correction, raising concerns about the staying power of their massive post-panic upleg. These higher prevailing gold prices have driven very-strong fundamentals at the gold miners. But they are entering the seasonally-weak summer doldrums. And current sentiment and technicals play major roles in governing when uplegs remain healthy or ready...Read More

"Well, now that we have seen each other," said the unicorn, "if you'll believe in me, I'll believe in you." - Lewis Carroll, "Through The Looking Glass""The greatest trick the devil ever pulled was convincing the world he didn't exist." - Keyser S?ze, "The Usual Suspects"By: Dave KranzlerThe employment report is a complete fraud. But as long as the market and it's army of mainstream story-tell...Read More

By: Ira EpsteinGold is in a correction, but strong supports in the $1,600's:Read More