China Will Continue to Drive Gold, Oil Prices

It's been a lively year for both gold and oil investors but the year to remember may be the one ahead. Goldman Sachs GS is forecasting a 27% jump in energy and a 17% rise in precious metals over the next 12 months. On the oil side, Goldman credits a rebound in industrial production for a 520,000-barrel-per-day increase in China's implied oil demand in August (year over year). As you can see from the left-side chart, Chinese oil demand has remained a fairly consistent story going back several years. Read the rest here.