Goldman Sachs slashes base metal price forecasts, ups gold

Goldman Sachs Group on Friday slashed its 2015 price forecasts for several base metals including copper and aluminium while raising its estimate for gold by $62/oz. "The primary reason for the changes to our forecasts is cost deflation - driven by a combination of actual and anticipated US dollar strength, cheaper energy and other input costs, and our expectation of an improvement in mining productivity," Goldman Sachs said.