Goldman Sachs Sees Even Bigger Commodities Rally
By : Investing.com
Published On: 2018-05-25
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Investing.com - Goldman Sachs (NYSE:GS) is even more bullish on commodities that it was before.The Wall Street firm now expects its commodity index to gain 8%, not 5%, over the next 12 months. In a note to clients, the firm says commodities, led by crude oil, will have their best year in a decade.Goldman says concerns over a slowdown in economic growth and rising U.S. interest rates are misplaced and that "demand remains robust."The firm says oil fundamentals are "more bullish than ever" in the wake of President Trump's decision to reinstate economic sanctions on major oil-producer Iran.
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