Commodities Experience Worst Demand Shock Since 2008, Says Goldman Sachs

Gold, on the other hand, is "virus immune" and has outperformed other assets viewed as a safe haven.

RIO DE JANEIRO, BRAZIL - The world is facing the greatest commodity demand shock since the global financial crisis as a result of the coronavirus outbreak that, after rocking Asia, is spreading to the United States and Europe, according to Goldman Sachs.

The stalled economic activity in China has reduced demand for oil by an estimated four million barrels a day, compared to five million barrels during the Great Recession of 2008 and 2009, said Jeff Currie, the bank's head of global commodity research, in a February 28th report. With new cases being reported in Europe, the Middle East and . . .

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