Goldman Sachs says it’s the beginning of a structural bull market in commodities
Repost from 3-3-2021
“Lockdowns have driven a wedge between the consumption of services and goods, generating additional demand from both households and governments looking to stimulate activity while minimizing the virus spread,” they said. … The Goldman analysts said the bull market is being driven by demand, not supply.”
USAGOLD note: Goldman led the charge on commodities and its earlier predictions for the commodities’ complex are looking pretty good at this juncture, as shown in the index chart below. The price increases across the spectrum of commodity categories from agricultural to base metals will likely feed into retail pricing as we move through 2021.
Chart courtesy of Trading Economics.com • • • Click to enlarge