Commodities will advance this year as central banks in the United States and Europe move to reduce interest rates, helping to support industrial and consumer demand, according to Bloomberg sourcing from the Goldman Sachs Group.
Raw materials may return 15 percent over 2024 as borrowing costs come down, manufacturing recovers and geopolitical risks persist, analysts including Samantha Dart and Daan Struyven said in a March 24 note. Copper, aluminum, gold and oil products may climb.
Commodities have made a modest advance in the first quarter, with crude strengthening, gold hitting a record and copper topping $9,000