Commodity bulls' 5 years of pain nears end as gains are on the cards
Goldman Sachs goes overweight on commodities while Citigroup projects global pick-up in 2017
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New York
FOR commodity bulls, relief from five years of pain is in sight.
The Bloomberg Commodity Index is set for its first annual gain since 2010 amid increasing demand and signs that production gluts for many raw materials are finally set to ease. Zinc has climbed 72 per cent this year, the best performer on the gauge, and nickel has surged amid mine-supply concerns. Crude oil jumped to a 16-month high on Monday on speculation that non-Organization of Petroleum Exporting Countries (Opec) members will join a plan to cut output beginning in January.
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