Goldman Predicts “Bullish Concoction” for Commodities and Gold in 2023

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According to a recent report from Goldman, this year sets up a ‘bullish concoction’ for commodities, with gold on the ‘cusp of sustained upside.’ The report states that commodities are in an ideal position to benefit from the current macroeconomic environment.

“You cannot come up with a more bullish concoction for commodities,” Currie said during a presentation last week. “Lack of supply is apparent in every single market you look at, whether it is inventories at critical operating levels or production capacity exhausted.”

The global economy is expected to continue its recovery from the pandemic-induced recession, while inflationary pressures are likely to remain elevated. This could lead to higher prices for commodities such as gold, which has already seen a significant increase in value over the past year.

At the same time, central banks around the world are continuing their accommodative monetary policies, which could further support commodity prices. In addition, geopolitical tensions between major powers could also have an impact on commodity markets.

Overall, it appears that this year could be a good one for commodities and gold investors. However, it is important to remember that there are still risks involved in investing in any asset class and investors should always do their own research before making any decisions.

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