Goldman revises up copper, aluminium, gold forecasts

LONDON, Dec 3 (Reuters) - Goldman Sachs said on Thursday it had revised up its forecasts for copper for 2010 because of a tighter supply picture and that it expects low U.S. interest rates to support gold this year and next. "Specifically, given the anticipated strong pick-up in the global economy in the first half of 2010 and correspondingly more buoyant investor sentiment, we expect base metals to make new highs by the middle of next year," it said in a note. "However, as we also expect U.S. inflation to remain subdued, we expect gold prices to come under significant downward pressure once the US economic recovery strengthens and the US Federal Reserve begins to raise interest rates." (Reporting by Pratima Desai; editing by Sue Thomas) ((pratima.desai@thomsonreuters.com; +44 207 542 5113))