PremiumAI Meets Scarcity: Goldman's Bull Case For Copper, Gold And PJM Power In Four Charts
Tactical hedges come and go with the headlines out of Hormuz. Goldman's structural commodity calls are about something slower and harder to fix: rising demand running into supply that can't keep up.
In its new note making the case for commodity diversification (available to pro subs), the bank's commodities team singles out three markets where that collision is already visible: copper, gold, and select power markets such as PJM. Here are the four charts that make the case.