Commodities under pressure from Goldman Sachs

Oil, gold and a host of other commodities have been red hot this year. Today, analysts at Goldman Sachs tried to douse the flames a bit. The firm said it recommended getting out of gold, agricultural commodities and West Texas Intermediate crude futures positions. The firm hedged a bit, saying they were making a “tactical” call for the short-term, not claiming that the commods were seriously topping out. “It is important to emphasize that we remain longer-term positive on oil, agriculture and gold and would view price dips as opportunities to re-establish long positions,” Goldman concluded.

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