Wells Fargo Is Now Bullish Commodities

The Metals Are Now Wells Fargo's Preferred Commodities For 2019.
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The supply-demand fundamentals are turning in favor of commodities for 2019, especially the metals, this according to John LaForge, head of Real Asset Strategy at Wells Fargo.

"Metals are the one real positive we like above and beyond everything else, particularly silver, particularly platinum. So we like commodities, but we especially like the metals," LaForge told Kitco News.

Gold is expected to lag its peers in the metals space, but Wells Fargo is still placing a 2019 target on the yellow metal on $1,300 an ounce.

"Gold is getting a bid, but it's not getting the bid that you think it would. I think a lot of that has to do with [gold's price], gold's pretty expensive versus the other metals, so anyone that wants to give it a bid, they kind of have to look at the other metals first," LaForge said.

This article was written by a staff member of TheStreet.