17 January 2023 | Other

Commodities have the strongest prospects out of all asset classes in 2023

Head of commodities research at Goldman Sachs Group Inc. Jeff Currie believes that commodities have the best outlook among other asset classes this year. This forecast is driven by favorable macroeconomic factors and critically low reserves of almost every key commodity. 

During his speech in London earlier this week, Currie noted that the year has started with a decline in prices caused by unexpectedly mild weather conditions for the winter period. At the same time, now there is a rise in China’s demand, which might eventually face insufficient supply. Consequently, prices might increase over the year.

According to Currie, these forecasts for commodities are more than optimistic this year. Shortages of supply are evident in every market, with critically low reserves or exhausted production capacity.

Currie draws a parallel between the current situation and a sharp increase in commodity prices during the crisis of 2007–2008 for getting more clarity. He also outlines some exceptions. For example, European reserves of natural gas are enough to provide the functioning of all necessary processes during the year.

Company MarketCheese
Period: 22.07.2025 Expectation: 1545 pips
Buying Tesla shares with target at 332 amid company’s global expansion
Today at 11:05 AM 26
Period: 25.07.2025 Expectation: 800 pips
Ascending channel to limit AUDUSD correction
Today at 10:09 AM 22
Period: 29.08.2025 Expectation: 1000 pips
Selling SPX to 6,170 level
Today at 07:37 AM 24
Gold sell
Period: 21.07.2025 Expectation: 6600 pips
Gold correction looms amid overbought conditions and stronger dollar
Yesterday at 10:58 AM 88
Period: 18.07.2025 Expectation: 1100 pips
Silver prices surge toward $40 level
Yesterday at 10:02 AM 47
Period: 11.07.2025 Expectation: 920 pips
GBPUSD falls as UK GDP unexpectedly shrinks
11 July 2025 63
Go to forecasts