Goldman Stays ‘Overweight’ on Commodities as Gold Favored
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Goldman Sachs Group Inc. is staying “overweight” on commodities as a rebound in demand revives speculation of shortages, with gold a favorite for 2012 as investors seek a hedge against Europe’s debt crisis.
Gold futures traded on the Comex in New York may climb to $1,940 an ounce in 12 months as U.S. interest rates and inflation are expected to remain low, Jeffrey Currie, head of commodities research, said at the company’s Strategy Conference 2012 in London today, repeating the bank’s December forecast. Gold has dropped 16 percent from a record in September.