Forecasts say the yellow metal may reach $1,500 an ounce in coming months.
Recovery in raw materials should persist if an expected end to the trade tiff comes.
While raw materials are no longer slumping, Goldman isn’t that impressed.
CIO also made it clear there will be no new investments in oil and gas-related commodity funds.
The oil sector gained with improving demand, although expectations for OPEC’s prospects of bringing down global production were reduced.
Low energy prices have contributed to a lack of pickup in inflation, while concerns about Chinese growth have abated, Credit Suisse reports.
Mild June forecast, weakening of Brazilian currency, and loosening of Indonesia’s export restrictions contributed to worldwide losses, report says.