Goldman Lowers 12-Month Forecast for Commodity Gains to 15%
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Goldman Sachs Group Inc. lowered its forecast for commodity gains in the next year to 15 percent after correctly predicting the climb in prices since the beginning of last month.
The S&P GSCI Enhanced Commodity Index will be led by gains in industrial metals in the next year, Jeffrey Currie, a Goldman analyst in London, wrote in a report today. The bank, which lowered its commodities forecast from 20 percent last month, says copper will gain 22 percent and London oil 10 percent.