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How Goldman’s Commodities Profit Engine Started to Sputter

  • Bank said to be reviewing the unit after weak first quarter
  • Blankfein had stayed committed as other firms cut back
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Goldman Sachs Said to Review Commodities Business

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The commodities supercycle was over, investors were losing interest and regulators were clamping down on risky trading. Most banks were retreating from commodities, but not Goldman Sachs Group Inc.

“That is a core, strategic business for us,” Chief Executive Officer Lloyd Blankfein said in a 2013 interview with CNBC.