Bloomberg News

Goldman Ends Bet on Higher Copper Prices for June 2012

January 31, 2012

Jan. 31 (Bloomberg) -- Goldman Sachs Group Inc. ended its bet on higher copper prices for June 2012.

The bet was opened at $7,274 a metric on Dec. 19, for a profit of $1,161 a ton, Max Layton, an analyst at Goldman in London, wrote in a report dated today. The metal is above Goldman’s three-month forecast and “there is little evidence of any tightening in the copper supply-demand balance over the past two months,” he said. Goldman is still betting on higher gold, brent oil and natural gas prices, according to the report.

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net


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