Goldman Sachs upgrades Iron Ore and Copper forecasts

Omkar Godbole FXStreet Contributor

Iron ore rally post-Trump victory has caught most investment banks on the wrong side of the trade.

The metal now trades around $80 per tonne, which is significantly higher than the most calendar 2017 forecasts.

Goldman Sachs has hiked its three-month forecast to $65 per tonne. The investment banker has also revised its copper forecast for three months, six months, and 12 months higher to $5800, $6200 and $5600 respectively.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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