Huge Upside in Commodities - Goldman
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Goldman Sachs analysts are becoming increasingly optimistic about commodities. In a report today, analysts at the bank said they expect a 29 percent return from the Standard & Poor's GSCI Enhanced Commodity Index over the next 12 months.
They commented that commodity price risks are "shifting more to the upside," and the bank is "moving back to a near-term overweight recommendation," preferring crude oil, gas, copper, aluminium and gold.
GSCI Commodity-Indexed Trust ETF (GSG) is down over 12 percent year to date. Other commodity ETFs have also been under pressure, with gold (NYSE: GLD) lower by 6.26 percent in three months and USO, which tracks crude oil, lower by over 20 percent in the same period.
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They commented that commodity price risks are "shifting more to the upside," and the bank is "moving back to a near-term overweight recommendation," preferring crude oil, gas, copper, aluminium and gold.
GSCI Commodity-Indexed Trust ETF (GSG) is down over 12 percent year to date. Other commodity ETFs have also been under pressure, with gold (NYSE: GLD) lower by 6.26 percent in three months and USO, which tracks crude oil, lower by over 20 percent in the same period.
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