The Globe and Mail reports in its Saturday, Dec. 31, edition that many long-time skeptics are starting 2017 with surprisingly rosy expectations for metal prices. The Globe's Ian McGugan writes that Goldman Sachs in November was bullish on raw materials for the first time in four years. Goldman sees an upswing in manufacturing around the world that will increase demand for many commodities. Analyst Jeff Currie says, "Commodity markets are entering a cyclically stronger environment." Citigroup analyst Edward Morse says, "Most commodities are ending 2016 in positive territory with momentum continuing for even higher returns in 2017 and 2018." Citi says faster growth in the global economy should boost demand. Just as important, Citi says, the huge wave of new production that drowned markets in gluts of many raw materials after 2011 may finally be ebbing. Several years of falling prices have discouraged fresh projects and brought supply and demand back into sync. While more gains may be in store for many raw materials, some metals face obvious threats. Gold, for instance, could feel more pain if the U.S. Federal Reserve follows through on its plan to raise interest rates.