9 October 2025
Bottom lines
- Gold Sentiment - Very Bullish, But Not Extreme
- Geopolitical Risk Index (GPR) is an excellent sentiment indicator
- Contrarian retail activity in STAX report
Gold Sentiment - Very Bullish, But Not Extreme
You don’t need a fancy sentiment model to know that gold sentiment is bullish. The price action, debates, and arguments all point in the same direction.
But the value of sentiment analysis is being more precise than simply saying “bullish.” For investors, there’s a big difference between “more bulls than bears” and “every indicator is at the 90th percentile’ or ‘no bears left.”
Very Bullish: A Consensus Long
- Our average Gold sentiment indicator sits at the 72nd percentile.
- 5 out of 11 indicators are at or above the 90th percentile.
- Two of our indicators are at levels historically followed by weak returns.
- Our Buy-Side Sentiment Tracker is at Max Bullish: 27 Bulls, 1 Neutral, 0 Bears. Three new views were added this month—all bullish.
