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Goldman Sachs keeps “neutral” recommendation on commodities

Posted on 24 July 2013

Goldman Sachs has maintained a “neutral” recommendation for commodities both a near-term and a 12-month horizon on expectations of flat returns. The bank lowered its 12-month S&P GSCI Enhanced Commodity Index return forecast to 0.1 per cent from 2.3 per cent.
“Our current outlook is extremely benign, with returns expected to be mostly flat over the next 12 months,” analyst Jeffrey Currie said in a note. The 12-month return forecast will include a 1.5 per cent gain in energy and 6 per cent gain in industrial metals, the bank said in a note dated Monday………………………………………..Full Article: Source


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