The S&P Goldman Sachs Commodity Index (S&P GSCI) is a commodity price index compiled by S&P Global Market Intelligence and Goldman Sachs to reflect price movements in global commodity markets.

The S&P GSCI index mainly includes the prices of energy, agricultural products, metals and other commodities, covering the trading prices of commodities in major markets around the world. Among them, energy commodities account for the largest proportion of the index, including crude oil, natural gas, etc., followed by agricultural products, such as soybeans, wheat, etc., and finally metals, such as copper, aluminum, etc.

The S&P GSCI index is calculated on a weighted average basis, weighting each commodity, with the weights of different commodities determined by their volume and market value in the global market. The daily price of the index changes according to the market trading conditions, and the S&P GSCI index also includes adjustments to factors such as the cost of holding positions to ensure that the index reflects the true price trend of the commodity market.

As an important indicator of global commodity market trends, the S&P GSCI Index is widely followed by investors, institutions and analysts. Investors can use the index to understand price movements in global commodity markets and thus make investment decisions. For example, when the price of energy commodities rises, it may indicate that the global economy is accelerating, and vice versa.

Overall, the S&P GSCI index is an important global commodity price indicator that can reflect price movements and trends in global commodity markets. The weighted average method calculates the prices of various commodities, providing valuable reference information to help investors understand market changes and trends so that they can make corresponding investment decisions.