Huge Upside in Commodities - Goldman
Tweet
Share
E-mail
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crude Inventory Rose 2.5 Million Barrels Last Week - EIA
- Origin Agritech Secures Exclusive Nationwide Rights to Zhongdan 6202, the Flagship Machine-Harvest Corn Hybrid Developed Under China's National 14th Five-Year Plan Breeding Program
- Intercontinental Exchange Reports July 2026 Statistics
Create E-mail Alert Related Categories
Commodities, ETFsRelated Entities
Crude OilSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
