Goldman Sachs, which shook up commodity markets two years ago with its prescient ’superspike’ theory that oil prices will top $100 a barrel, thinks it may be time for a short bout of profit-taking.
After a 50 percent surge so far this year to $93 a barrel, crude is ripe for a temporary bout of “tactical” selling before resuming a climb that could take it into triple-digit territory, Goldman said.
Gold and agriculture may also be ready for a little trim.
Goldman’s ’superspike’ theory says booming global demand for commodities will outpace new supply.
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