UBS predicts an increase in commodities prices beyond 2023.
UBS strategists remain bullish on certain commodities despite global pressures in the sector in March. The bank sees opportunities in longer-dated Brent Oil contracts with a price target of $100/bbl and recommends a long Platinum trade, with a price target of $1,150 due to the metal’s close correlation to Gold. UBS also sees potential in selling the downside price risks in Crude oil, Copper, Nickel, Gold and Platinum.
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