The Traderszone Network

Published in TZ Latest News 16 January, 2015 by The TZ Newswire Staff

Goldman Sachs touts commodities muscle as rivals shrink

Goldman Sachs Group Inc (GS.N) stuck with commodities trading while rivals have pulled back, and on Friday the bank felt vindicated. While Goldman does not disclose revenue for commodities trading specifically, Chief Financial Officer Harvey Schwartz highlighted it as a bright spot in the bank’s broader fixed-income trading business, which had a rough quarter. “Over the last couple years we’ve often been asked the question: It seems like everybody else is getting out of the commodity business. How come you aren’t getting out of the commodity business?” said Schwartz.