Goldman Sachs Lowers 2010 Copper, Zinc Estimates, Raises Gold

NEW YORK, July 12 -- Goldman Sachs Group Inc. lowered its 2010 estimates for copper, lead, zinc, nickel, iron ore, coking coal and platinum and raised gold.

Zinc will be 12 percent less than previously estimated at $1,981 a metric ton, and coking coal will be 10 percent lower at $199 a ton, the bank said in a report dated yesterday. The 2010 gold estimate was raised 1 percent to $1,181 an ounce, according to the report. The copper forecast was lowered 8 percent to $7,050 a ton, Goldman said.