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Citigroup Tips Oil, Zinc and Copper for Strong 2017; Cautions on Gold

Citigroup has added its voice to a growing chorus of brokers predicting a stellar 2017 for commodities, claiming that oil, copper, zinc and wheat are all poised to gain over the coming year as oversupply dwindles and as cash flows into commodity funds.

"For commodities in general, the oversupply that was induced by high prices in the first decade of this century are finally being balanced," noted Citi analysts including Ed Morse. "What's more, the cost structures across commodities are...