Goldman Sachs Group Inc. (GS) ended its bet on higher copper prices for June 2012.
The bet was opened at $7,274 a metric on Dec. 19, for a profit of $1,161 a ton, Max Layton, an analyst at Goldman in London, wrote in a report dated today. The metal is above Goldman’s three-month forecast and “there is little evidence of any tightening in the copper supply-demand balance over the past two months,” he said. Goldman is still betting on higher gold, brent oil and natural gas prices, according to the report.
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