RE: Copper30 May 2024 08:01
Goldman Sachs remains selectively bullish on commodities
00:46
May 29 (Reuters) – Goldman Sachs remains selectively bullish on commodities, it said in a note on Wednesday, citing solid demand growth, expectations of more structural upside in industrial metals and gold, and a shrinking geopolitical risk premium for oil.
The bank said it expected Brent to stay in $75 to $90 per barrel range, gold prices to rise 14% to $2,700 per ounce by year-end, and COPPER to resume its sharp rally with an additional 15% upside to $12,000 per metric ton by year-end.