Wall Street analysts are betting on another red-hot commodity rally before year-end

CNBC/Elliot Smith/8-17-2022

“Commodities have broadly pulled back from their recent peaks, but Wall Street analysts say the fundamentals are pointing to another rally by year-end.”

USAGOLD note: UBS is betting on a soft landing for the US economy and a rebound in Chinese commodity demand. At the same time, supplies have been “constrained.” The article goes on to say that UBS echoes Goldman Sachs’ recent analysis that “commodities markets appear to hold irrational expectations” on both supply and demand.

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