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Goldman Sachs holds onto its commodities crown

Jessica Morris
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Goldman came top of the ranking in the last two years (Source: Getty)

Goldman Sachs is still king of the investment banks when it comes to commodities trading.

Data from analytics firm Coalition showed that the Wall Street stalwart made the most money from trading commodities such as oil, coal and metals after coming top in the past two years, Bloomberg reported.

JP Morgan and Citigroup took second and third place respectively. They were followed by Bank of America, Morgan Stanley, BNP Paribas, UBS, HSBC and Societe Generale.

The commodities rout has prompted Morgan Stanley, Barclays and Deutsche Bank to whittle down their trading desks which are focused on these areas. It comes amid increasing regulation and less volatility which makes it hard to turn a profit.

But Goldman has stood firm in the face of the commodities trading exodus.

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