Goldman Sachs are looking for commodities to “rebound sharply” following their recent sell offs.
- GS caveat their outlook by saying unless there are widespread lockdowns due to the spreading delta mutant coronavirus
- GS do not expect widespread lockdowns
- Even if they were it delays the rapid bounce back by six to eight weeks they say, citing past experience
On gold, GS are forecasting US$2,000/oz in 3, 6 and 12-month horizons (this not an especially new forecast from GS, more a reiteration).