# Goldman sees Fed-driven dip in commodities as a 'buying opportunity'

> Goldman Sachs said the recent drop in commodity prices, triggered by the Fed bringing forward interest rate hike projections into 2023, is a buying opportunity. The bank expects physical scarcity from strong demand and inelastic supply could push Brent to average $80 in the third quarter.

- Date: 2021-06-18 · published 2021-06-18T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/46485-goldman-sees-fed-driven-dip-in-commodities-as-a-buying-opportunity
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar on hawkish Fed signals pressured commodities broadly, but Goldman's bullish energy view suggests firm crude prices that raise diesel and freight costs for feed logistics.

## Read by commodity

- DXY: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-06-20 | [The Commodities Feed: Dovish Fed sees commodities rally \| snaps \| ING THINK](https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think.md) | +7.0% | +2.1% |
| BRENT | 2020-10-22 | [Goldman Sachs: Commodities bull market ahead on dollar, inflation risk](https://feedsoft.ai/events/50555-goldman-sachs-commodities-bull-market-ahead-on-dollar-inflation-risk.md) | -5.9% | +6.6% |
| BRENT | 2016-12-29 | [Stay both commodity and dollar bullish in 2017 – Goldman Sachs — Octa](https://feedsoft.ai/events/73389-stay-both-commodity-and-dollar-bullish-in-2017-goldman-sachs-octa.md) | +0.6% | +0.9% |
| BRENT | 2019-06-19 | [Commodities outlook: It's all action as Fed decides](https://feedsoft.ai/events/58511-commodities-outlook-it-s-all-action-as-fed-decides.md) | +4.6% | +3.8% |
| BRENT | 2025-05-08 | [The Commodities Feed: Markets disappointed as Fed remains on hold \| articles \| ING THINK](https://feedsoft.ai/events/24575-the-commodities-feed-markets-disappointed-as-fed-remains-on-hold-articles-ing.md) | +8.7% | +9.1% |
| WTI | 2019-06-20 | [The Commodities Feed: Dovish Fed sees commodities rally \| snaps \| ING THINK](https://feedsoft.ai/events/58509-the-commodities-feed-dovish-fed-sees-commodities-rally-snaps-ing-think.md) | +10.2% | +2.6% |
| WTI | 2016-12-29 | [Stay both commodity and dollar bullish in 2017 – Goldman Sachs — Octa](https://feedsoft.ai/events/73389-stay-both-commodity-and-dollar-bullish-in-2017-goldman-sachs-octa.md) | -0.5% | -1.6% |
| WTI | 2019-06-19 | [Commodities outlook: It's all action as Fed decides](https://feedsoft.ai/events/58511-commodities-outlook-it-s-all-action-as-fed-decides.md) | +7.1% | +5.0% |

## Sources

- reuters.com: https://www.reuters.com/legal/transactional/goldman-sees-fed-driven-dip-commodities-buying-opportunity-2021-06-18/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.