Copper Climbs After Goldman Sachs Says Commodities May Recover
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Copper rose, rebounding from a five-month low, after Goldman Sachs Group Inc. said commodities may recover from an 11 percent slump last week.
The Standard & Poor’s GSCI Index of 24 raw materials rose as much as 4.1 percent. “Given the magnitude of the pullback, it does create an opportunity for more upside potential,” Goldman Sachs said. A month ago, the bank told investors they should be “underweight” in commodities. Copper fell 4.9 percent last week.