(Reuters) – A weaker U.S. dollar, rising inflation risks and demand driven by additional fiscal and monetary stimulus from major central banks will spur a bull market for commodities in 2021, Goldman Sachs (NYSE:GS) said on Thursday.
The bank forecast a return of 28% over a 12-month period on the S&P/Goldman Sachs Commodity Index (GSCI), with a 17.9% return for precious metals, 42.6% for energy, 5.5% for industrial metals and a negative return of 0.8% for agriculture.
Markets are now increasingly concerned about the return of inflation, the Wall Street bank said. Read more…..
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Jeff Currie, global head of commodities research at Goldman Sachs, discusses the potential for carbon capture technologies, oil prices and his outlook for metals. He speaks exclusively on “Bloomberg Daybreak: Asia” from the sidelines of the Goldman Sachs Global Macro Conference Asia Pacific in Hong Kong.