Clara Ferreira Marques, Columnist

Goldman's Metal Bull Has Tunnel Vision

Commodities optimists may be too focused on the light at the end rather than the surrounding darkness.

December 9, 2020 at 12:00 AM UTC

Clara Ferreira Marques is a managing editor for Commodities and Energy in Asia. Previously, she was a Bloomberg Opinion columnist and editorial board member.

The future looks rosy. It's now that's the problem.
Photographer: Qilai Shen/Bloomberg

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The metal bulls are charging. Goldman Sachs Group Inc., which sees a commodities rally ahead on a par with the 2000, says copper could test its record high of just over $10,000 by 2022. The metal has already surged to almost $8,000 this year. Nickel is also on a tear, zinc has climbed more than 50% since March, and iron ore is closing in on $150 a ton.

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