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Goldman Bullish on Commodities for Next Year
Posted: 11/16/11
By: messany
Goldman Sachs is keeping its overweight recommendation for commodities over the next year.
"Confidence in this view has been reinforced by the recent shift in policy in China towards a looser stance, which will likely help support economic growth and, in turn, commodity demand," Goldman announced to clients this week.
On the other hand, Goldman lowered its 12-month S&P GSCI Enhanced Commodity return forecast to 15 per cent from 20 per cent.
Goldman anticipates gold prices climbing throughout 2012 and reaching $1,930 per troy by this time next year,
Similarly, Goldman believes higher corn prices are in store for the next six months while soybean prices will climb on unfavorable weather.
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