Goldman: Buy Gold, Buy Oil

Goldman's 2025 Commodity Outlook Breakdown

The metals have surprised us non-stop this year… pleasantly. Here is why they did once again yesterday.

Contents:

1. Goldman’s Core Rationale

2. Tail Risks in 2025: Geopolitics and Trade

3. Top Trades For Energy and Metals

4. The Case for Gold

5. Slidedeck