sentix Survey results (44-2025)

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Exuberant mood for Japanese equities

The Japanese stock market is facing increasing risks. However, the bias there remains high. The situation is different for German equities, where fundamental confidence is eroding noticeably. Even the central banks have not triggered any new price speculation recently. Pressure on long-term bonds remains. However, the Fed has achieved one thing: the US dollar is slowly regaining confidence. A renewed rise in prices appears premature for precious metals. Overconfidence risks are putting the brakes on for the time being. The outlook is better for gold mining stocks and bitcoins, however.

Further results

  • Precious metals & gold mines: Buy signals versus high OCI
  • FX: US dollar gains confidence
  • Bitcoin: TD buy signal

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sentix Survey results (43-2025)

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Precious metals sentiment neutral again

The precious metals markets remain the focus of investor interest. Prices have experienced a setback over the course of the week, which is also reflected in the sentiment data. Sentiment is now neutral again. In recent years, such a neutral sentiment has usually marked the end of correction movements. Will this be the case this time too?

Further results

  • Equities: Institutional investors more confident
  • Crude oil: Significant increase in bias
  • sentix investor positioning in equities, bonds and others assets

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sentix Survey results (42-2025)

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High risk in precious metals

Precious metals are on everyone's lips. The market segment therefore deserves our full attention this week. Regardless of all the arguments in favour of precious metals, there are a number of signs that warn of a speculative excess in gold & silver. This is symbolised by the sentix risk radar for gold, which has now reached a 2.2-fold standard deviation in the Z-score. But there is also a lot going on in equities: the hint of euphoria has disappeared and the bond market is also drawing little nectar from the emerging unrest.

Further results

  • Bonds: Bullish Sentiment & Bearish engulfing pattern
  • Precious metals: Bias decline continues
  • sentix Styles - Investor preferences & behavior

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sentix Survey results (41-2025)

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Too much of a good thing?

The past week has seen a series of news items, each of which could be hugely explosive in its own right. New tariff disputes between the US and China, a magical deal between AMD and Open AI, a stubborn shutdown in the US, peace in Gaza and government turmoil in France and Japan. The market cheers winners, the market penalises potential losers. Was this news perhaps too much of a good thing? There is movement on the currency market, where the US dollar is beginning to appreciate against the euro. There is also movement in precious metals.

Further results

  • Bonds: US Treasuries can hardly benefit
  • Precious metals: Bias decline indicates profit-taking
  • sentix sector sentiment

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sentix Survey results (40-2025)

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Equity sentiment is turning bullish

The mood on the stock markets has brightened considerably over the course of the week. Investors are hopeful for the typical year-end rally. However, there remains an interesting divergence between the AAII US data and the sentix data. While investors in the sentix survey remain considerably irritated, we measure a high degree of polarisation in the AAII data. Signs of exhaustion are spreading among precious metals.

Further results

  • FX: Strategic bias is falling for EUR-USD and USD-JPY
  • Precious metals: First signs of exhaustion
  • sentix economic indices: Monday October 6th 2025, 10.30h CEST

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