Goldman Raises 3-Month Forecast for Commodities to ‘Overweight’
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Goldman Sachs Group Inc. raised its three-month outlook for raw materials to “overweight” after prices declined.
The Standard & Poor’s GSCI Enhanced Commodity Index will advance 3 percent in 12 months, led by gains of 7 percent in industrial metals, 5 percent in livestock and 3 percent in energy, the bank said in its monthly asset allocation report dated yesterday. On Feb. 8, Goldman forecast a 1 percent return.