Commodities are back in favor for Roger Groebli, senior manager at ABN AMRO Bank Switzerland, due to a stronger-than-expected rise in demand from China.
"Demand was much stronger than we thought, in particular in the metal segment like copper. It went up quite nicely and we see that China is demanding more," Groebli explained on CNBC's "Protect Your Wealth".
Groebli, who had initially been underweight commodities, explained the decision to change his call on the asset class.
"We had lower growth, in particular from China, and obviously, looking back the past three months, we were wrong with this assumption," he said on .