November 11, 2016 Goldman Sachs sees positive outlook for copper on Trump presidency
Goldman Sachs is re-evaluating its previous copper forecast after Donald Trump won the US presidential election earlier this week, crediting the change to a potential massive influx of stimulus spending on infrastructure projects.
A memo released in late October by close Trump economic advisors detailed plans to finance up to $1 trillion in new infrastructure spending over the next decade. Additionally, one of Trump's first statements regarding the US economy was to launch a joint-coalition infrastructure program that Goldman estimates will average $100 billion per annum. US infrastructure is crumbling and Trump's promise to spend heavily will boost demand for metals. Infrastructure stimulus is not expected to...
