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Commodities to gain over 40% in 2023- Goldman Sachs
Posted on December 26, 2022 |
The first quarter may be rough due to economic weakness in the US and China, but the lack of raw materials from oil to natural gas and metals will boost prices after that.
The bank expects the S&P GSCI Total Return Index to grow 43% in 2023 which would add to gains of 24% so far this year, and in contrast, US stocks are down 16%, while government bonds have also fallen.
In 2022, the top 15 commodity-focused hedge funds increased their assets by 50% to $20.7 billion.