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Goldman Sachs advises going long on some commodities and is optimistic about copper and aluminum

iconNov 13, 2023 16:06
Source:SMM
Goldman Sachs' latest view is that commodity prices are expected to rise in 2024 as the Fed's weakening hawkish stance and reduced risks of economic recession will boost demand.

Goldman Sachs' latest view is that commodity prices are expected to rise in 2024 as the Fed's weakening hawkish stance and reduced risks of economic recession will boost demand. Goldman Sachs expects oil prices to remain in the range of $80-100 per barrel, with Brent crude oil averaging $92 per barrel in 2024. We are also optimistic about copper and aluminum, with the average copper price expected to be $9,200/mt in 2024.

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