Goldman believes this trade will return more than 20% over the next 12 months

Oliver Llaneza | Hulton Archive | Getty Images

Despite the many recent macroeconomic concerns about the resurgence of global Covid-19 cases, the stalled economic reopening and how the Federal Reserve is going to control inflation, Goldman Sachs thinks the foundation is being laid for a booming rally in metals.

More In Investing trends

CNBC ProThis solar stock is jumping after an upgrade from Bank of America
CNBC ProYes, the Santa Claus rally is real, history shows. How December trading should go
CNBC ProThere’s a ‘great battery race’ ahead says Goldman Sachs. These stocks will win