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Goldman Sachs lifts bets on copper, coal, iron ore and oil

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Surging output, tight inventories and supply constraints will help push copper to $US8000 a tonne over the next 12 months - a level not seen since 2013, Goldman said. Bloomberg

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by Timothy Moore
Goldman Sachs is as bullish as ever on commodities, leading it to lift its forecasts over the next 12 months for copper, oil, iron ore and coal.
"We maintain our overweight recommendation in commodities as the environment for investing in commodities is the best since 2004-2008," analysts at the firm said in an 11-page Commodity Watch report dated February 1.
Goldman lifted its 12-month target on copper to $US8000 a tonne, from $US7050 previously. It raised its six-month target on Brent to $US82.50 a barrel from $US62.
As for iron ore, Goldman increased its three-month target to $US85 a tonne from $US55; its three-month target for met coal is now $US220 a tonne from $US165.


Read more: http://www.copyright link/business/...ron-ore-and-oil-20180201-h0s9n1#ixzz55tuGNWnp
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