Commodities under pressure from Goldman SachsAaron Pressman
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.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Gulf of Mexico Oil Spill May Be Largest Since BP Disaster
- Airbus Snaps Up Bombardier Jet in New Challenge to Boeing
- Billionaire Tom Barrack Throws Harvey Weinstein a Lifeline