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Reuters
Goldman says commodities outlook strong, pullbacks a buying opportunity
Commodities markets have been oversold, de-linking with supply-demand fundamentals, the bank said in a note dated July 7. Commodities will weather risks of a recession in the United States and Europe in the next 12 months, “on China’s large-scale counter-cyclical stimulus,” the bank said. It forecast returns of 34.4%, 30.4% and 36.9% on commodities over a three-, six- and 12-month period respectively on the S&P/GSCI Goldman Sachs Commodity Index (GSCI), adding commodities were a “great macro hedge.”
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