Goldman Sachs Group is predicting a surge in commodity prices in 2024 as central banks across the United States and Europe work to reduce interest rates in their respective countries that would likely support both consumer and industrial demand. According to a March 24, 2024, note, raw materials could see a return of up to 15% through the year as the cost of debt reduces, the manufacturing sector starts to recover and global geopolitical risks with the potential to affect commodity prices persist.

Several Goldman analysts, including Daan Struyven and Samantha Dart, believe that oil, gold, aluminum and copper products may see a rise in…

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