Rally in commodities still has plenty of room to run: Goldman and UBS

The powerful rally in commodities that’s been a standout feature of global markets as the world emerges from the pandemic has plenty of room to run, according to Goldman Sachs Group and UBS Group.
 
Raw materials are likely to surge 13.5 per cent in the next six months, Goldman Sachs said in a report, forecasting a never-seen-before jump in global oil demand and copper at a record.
 
UBS said commodities will rise another 10 per cent. “The magnitude of the coming change in the volume of demand — a change which supply cannot match — must not be