According to CNBC, hedge fund manager John Paulson said gold is only in the early stages of a long-term bull market and argued that demand for the metal is expanding as investors lose confidence in paper currencies. He said central banks have continued to add to their reserves, while private-sector demand has also increased.
Paulson, who shifted to gold in 2009 after making billions betting against U.S. housing, said investors may get better returns from gold miners than from bullion itself, especially companies with large undeveloped reserves. He said NovaGold Resources offers leveraged exposure to higher gold prices because of its resource base, and noted that the company has 40 million ounces of gold indicated and measured resources and reserves at a market capitalization of $4.2 billion. NovaGold also announced it would acquire Paulson Advisers' 40% stake in the Donlin Gold project in Alaska.
John Paulson Says Gold Is in Early Stages of Long-Term Bull Market
2026-07-22 20:54:36
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