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Bloomberg reported that Goldman Sachs has cut their near-term outlook for commodities and exited a bet on lower gold prices.
Bloomberg reported that Goldman Sachs has cut their near-term outlook for commodities and exited a bet on lower gold prices.
As quoted in the market report:
Goldman Sachs lowered its three- and 12-month return forecasts for the Standard & Poor’s GSCI gauge of 24 commodities to 2.5 percent, from 6 percent in three months and 3 percent in 12 months, and cut its near-term outlook on commodities to neutral from overweight, according to the report, dated today. It exited its bet on lower gold prices, with a potential gain of 10 percent, while saying bullion may fall even more.
