Buy commodities, worry about recession later, says Goldman Sachs

Goldman Sachs did caution the path ahead may not be smooth, especially if the greenback extends gains

Goldman Sachs Group Inc. urged investors to pile into commodities as most recession risks coursing through global markets are overblown in the near term, arguing that raw materials stand to rebound amid a profound energy crisis and tight physical fundamentals.

“Our economists view the risk of a recession outside Europe in the next 12 months as relatively low," analysts including Sabine Schels, Jeffrey Currie and Damien Courvalin wrote in a note. “With oil the commodity of last resort in an era of severe energy shortages, we believe the pullback in the entire oil complex provides an attractive entry point for long-only