Billionaire John Paulson Asserts Gold Bull Market Still in Early Stages

In a CNBC interview, billionaire John Paulson said the gold market remains in the early stages of a long-term rally. He cited eroding faith in paper currencies and strong central bank buying, describing gold as the leading reserve asset replacing fiat currencies.

Paulson, whose $3.11 billion hedge fund now centers on precious-metals miners after exiting physical gold in 2022, favors early-stage exploration stocks for higher returns. He recently agreed to sell his 40% interest in the Donlin Gold project to NOVAGOLD in an all-share deal while retaining substantial economic interest.

Donlin holds roughly 40 million ounces of gold resources grading 2.22 grams per tonne. Paulson noted that equities such as NOVAGOLD provide the optimal way to benefit from rising gold prices. NOVAGOLD CEO Greg Lang added that the transaction will streamline feasibility study updates.