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Goldman Traders Score $2 Billion in Commodities’ Comeback Year

  • Windfall ends slump that raised doubts about the desk’s future
  • It’s a sign traders across Wall Street saw strong end to 2020

Goldman Sachs Group Inc.’s commodities traders doubled their revenue haul in 2020 -- another sign that Wall Street desks managed to print profits into the year’s finale, even as market mayhem subsided.

Goldman’s business generated more than $2 billion in revenue for its best annual showing in about a decade, according to people with knowledge of the matter. That was a much needed redemption: The unit’s prowess once earned the bank the nickname “Wall Street Refiner,” but a prolonged slump in recent years was starting to raise doubts about the group’s future.