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The Goldman Sachs Commodities and Research team is still hugely bullish on the commodity complex.  In fact, their latest trade recommendations are almost universally bullish.  Of particular interest is their long gold call which is the opposite of what their Investment Strategy Group (for high net worth private client) is telling investors:

  • Long European Gasoil
    Buy March 2011 European ICE Gasoil
  • Long CCCP basket
    Buy Dec-11 WTI (weight 40%), Dec-11 LME Copper(20%), Nov-11 CBOT soybeans (10%), Dec-11 NYBcotton (10%), S&P GSCI platinum index (20%)
  • Long Soybeans
    Buy November 2011 CBOT Soybean
  • Short Aluminum
    Sell February 2011 Aluminum
  • Long Gold
    Buy December 2011 COMEX Gold
  • Long Corn
    Buy March 2011 CBOT Corn
  • Long Copper
    Buy December 2011 Copper
  • Long Platinum
    Buy January 2011 NYMEX Platinum

Their 12 month target on crude is $103, gold $1,690 and silver $28.20.

Source: Goldman Sachs

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