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Commodities sell-off overdone: Goldman Sachs

Posted on 12 March 2013

Goldman Sachs turned bullish on commodities on Monday, upping its near-term return forecast from 2 percent to 6 percent, despite renewed concerns about a slowdown in China. Prices for commodities such as oil fell sharply in February, as weak data raised concerns about the economic strength of China, the world’s second-biggest oil consumer. Brent crude oil traded below $110 on Monday, down from a three-month high of $119.17 on February 8.
However, Goldman Sachs said the drop in prices was “too much, too soon”. “Although volatility rose during February, it did so from extremely low levels and in some cases from record low levels,” Goldman analysts wrote in a note………………………………………..Full Article: Source


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