Goldman Sachs commodities analysts with a note. In brief:

  • commodities to rise circa 28% in the next 12 months
  • see no contagion from the bank crisis into physical commodities
  • oil, gold to rise
  • gold a haven in an environment of financial risks
  • Chinese oil demand rising, to top 16mn bbl/day. Chinese demand rising also for other commodities.


AUD, NZD, CAD all ticking up still, USD/CAD down in Asia time:

uscad 23 March 2023