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Goldman Sees ‘Bullish Concoction’ for Global Commodities

  • Commodities have strongest outlook of any asset class: Currie
  • He sees parallels with run-up in prices from 2007 to 2008
Bloomberg business news
WATCH: Goldman Sachs sees parallels with the record run-up in commodities prices from 2007 to 2008.Source: Bloomberg
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Commodities have the strongest outlook of any asset class in 2023, with a perfect macroeconomic environment and critically low inventories for almost every key raw material, according to the head of commodities research at Goldman Sachs Group Inc. 

This year has started with a pullback in prices driven by warm weather shock and rising interest rates, Jeff Currie said at a presentation in London on Monday. But demand in China starting to rebound and there’s insufficient investment in supply, meaning the year as a whole will be a “Goldilocks” moment for rising prices, he said.