Goldman Sachs recommended buying commodities.....

Goldman Sachs Says “BUY”

Tuesday, May 24, 2011, 8:34am EDT Written by GoldAlert Staff.

http://www.goldalert.com/2011/05/goldman-sachs-says-%E2%80%9Cbuy%E2%80%9D/

In a report to clients this morning, the research team at Goldman Sachs recommended buying commodities, specifically, oil and copper – reversing last month’s call to sell them.  Jeffrey Currie, head of commodities research at Goldman, noted that “The risk-reward once again favors being long commodities.”

The call out of Goldman helped power the commodity complex higher.  Sugar led the way, rising 3.4%, while oil and copper gained 1.2% and 1.3%, respectively.  Gold prices rose modestly, climbing $3.10 to $1,520 per ounce and silver advanced 2.4% to $35.75 per ounce.

S&P 500 stock futures rose 4.30 to 1319.50, following the move higher in emerging market equities, which rose 0.5% as measured by the MSCI Emerging Markets Index.

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