Goldman Sachs expects Ukraine crisis to cause rapid rise in commodities

Goldman Sachs stated that its sanctions against Russia, one of the world’s largest commodity producers, will cause a rapid rise in commodity prices in the short term.

Goldman Sachs emphasized that they expect an increase in the prices of oil, gas, aluminum, palladium, nickel, wheat and corn, of which Russia is one of the important producers.

The bank increased its forecast for one-month Brent crude oil from $95/barrel to $115/barrel, emphasizing that there is a risk of a serious rise in price if tensions escalate and supply is disrupted for a longer period of time.

Goldman Sachs also stated that the gold price may rise to the level of 2150 dollars / ounce in the coming months.

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