This year sets up 'bullish concoction' for commodities, gold on 'cusp of sustained upside,' says Goldman Goldman commodities gold
Commodities are in store for a 'bullish concoction' in 2023, according to Goldman Sachs, which sees a combination of the macro environment and low inventories boosting prices.
"You cannot come up with a more bullish concoction for commodities," Currie said during a presentation last week."Lack of supply is apparent in every single market you look at, whether it is inventories at critical operating levels or production capacity exhausted." In the oil market, several drivers are not priced to their fullest extent, Goldman added in the note.
Back in 2020, Goldman called for a commodities supercycle. So this latest call is in line with the bank's long-term outlook.
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