Commodities to rally 13.5% in the next six months – Goldman Sachs

Dhwani Mehta FXStreet

Analysts at Goldman Sachs remain upbeat on the outlook for commodities, citing promising next six months for copper and oil.

Key quotes

“Oil is seen rising to $80/bbl, global consumption will surge 5.2m b/d over the next six months, which is 50% larger than the next biggest increase over that timeframe since 2000 ..”

"The magnitude of the coming change in the volume of demand -- a change which supply cannot match -- must not be understated."

“Copper to reach $11,000/ton.”

“Commodity markets have looked through the sharp rise in Covid-19 cases in India.”

“Expect greater mobility, aided by vaccines, a seasonal upswing in transportation, manufacturing and construction, beginning now and accelerating into June.”

“The pace of vaccination accelerates in Europe; increased travel demand will result in easing of international travel curbs in May. “

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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