According to Goldman Sachs Group Inc., commodities will once again be the best-performing asset class in 2023, giving investors returns of more than 40%.
The Wall Street bank stated that while the first quarter may be “bumpy” due to economic difficulties in the US and China, scarcities of raw resources, including metals, natural gas, and oil, will increase prices after that.
The S&P GSCI Total Return Index, a widely used indicator of changes in commodity prices, is predicted to increase 43% in 2023 by the bank. The increases would bring this year’s total gains to 24%. In contrast, US stocks are down about 16%, and so are government bonds.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.