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Commodities Seen by Goldman Down After ‘Transient Events’

Goldman Sachs Group Inc. expects commodity prices to decline this year even after precious metals and crop prices rallied on Ukraine tension and weather concerns.

The S&P GSCI Enhanced Commodity Index may drop 4 percent in the next 12 months from a 4.3 percent decrease predicted in February, analysts led by Jeffrey Currie wrote in a report dated yesterday. Precious metals will decline 15 percent, compared with a 14 percent retreat forecast in February, it said. Agriculture prices will drop 10 percent, from February’s estimate of a 9 percent loss, it said.