GS: Commodity Comment
Tariffs, Oil Pressure, and Gold Support
The observations in this report are good. However, this is before Chinese retaliatory tariffs. So recommending buying gold might’ve been a little bit early…
Commodity Comment: Reciprocal Tariffs: Oil Pressure, Gold Support
We summarize the direct impact of announced and expected tariffs on US industrial metals and the indirect effect on commodities via weaker global growth (bearish oil, bullish gold).