Gold-stock sentiment just hit a level Adrian Day has never seen in 50 years of managing money: not a single investor surveyed was bullish!
Speaking with Kitco News at the Rule Symposium 2026 in Boca Raton, the Adrian Day Asset Management chairman said miner bullishness has collapsed to around 7%, against a typical 60/40 split. He calls it “the worst sentiment I have ever seen in my 50 years managing money in any sector at any time,” and argues it has left the big producers historically cheap.
Still, he warns gold “could easily break the last low and go down to 3,600” first.
