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Home / Metal News / Goldman Sachs sees Gold, Copper, Iron Ore may decline 15% next year

Goldman Sachs sees Gold, Copper, Iron Ore may decline 15% next year

Nov 22, 2013 09:23

Source:SMM

Goldman Sachs expects gold, copper and iron ore prices may decline 15% next year as commodities face increased downside risks even as economic growth in the U.S. accelerates.

UNITED STATES November 21 2013 11:35 PM

NEW YORK (Scrap Register): Goldman Sachs expects gold, copper and iron ore prices may decline 15 % next year as commodities face increased downside risks even as economic growth in the U.S. accelerates.

According to Goldman, the risks are strongest for iron ore and follow increases in supplies; analysts including Jeffrey Currie wrote in a report yesterday that identified the New York-based bank’s top 10 market themes for the coming year.

Price pressures will mostly become visible later in 2014, the analysts wrote, forecasting that bullion, copper and soybeans will decline to the lowest levels since 2010.

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