Goldman Sachs Issues Warning On Commodities, Recommends Underweighting In The Short Term
Friday, April 15, 2011 07:19
Analysts at the financial giant are telling clients they anticipate a correction in oil prices that will send commodities prices down over the next six months. However, they recommend overweighting for the 12-month period.
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Goldman's long-term view is based on a belief that rising worldwide demand for oil and other commodities will continue to outpace supply.
But in the short term, the rapid rise in oil prices is likely to deflate soon, barring new political developments that could lead to further price hikes, the analysts said.
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