Gold Stock Sentiment Hit ZERO | Peter Grandich
The Deep Dive Jun 29, 2026
Summary
Bullish sentiment on gold stocks hit zero, the lowest reading possible, and even respected long-time market commentators have turned bearish.
He argues gold stocks needed a corrective consolidation phase (a healthy pause after a big run) following gains of several hundred percent.
He maintains a supply and demand deficit in critical minerals persists, and government concern has so far changed nothing.
Peter Grandich's takeaways
- Top takeaway Grandich argues the pullback in gold stocks is merely a corrective consolidation phase after a multi-year rally, not a change in trend.
- He notes the bullish percentage of gold stocks hit zero — the lowest possible reading — in the days before this video, and says that alone is no reason to turn bearish.
- He points out gold stocks rallied several hundred percent over the last few years and over 100% last year, which he says made a consolidation phase necessary.
- He tells clients that the supply and demand deficit in critical minerals is unchanged, with all governments still rallying about securing them.