Mining Stock Education · Friday, September 11, 2026
Greg Orrell, portfolio manager at OCM Gold Fund, drew parallels between the gold market cycle from 2008-2012 and the current one. He noted that the earlier cycle saw more enthusiasm and retail participation in gold shares compared to the present, which he described as having a "very muted response by the retail."
“2008 to 2012, I think you had a lot more enthusiasm in the gold shares, uh, certainly.”
“And, yeah, there was money, yeah, coming into the funds. I mean, you know, one of the things that I think is, you know, is taking place in this cycle is, um, there hasn't been a lot of money coming into the gold mutual funds.”
“So it's been a very muted response by the retail.”