John Paulson: Gold in the early stages of a long-term bull market

John Paulson said gold is in the early stages of a long-term bull market, arguing that rising distrust in fiat currencies and continued central-bank demand should keep supporting prices. He noted gold is still up more than 20% over the past year despite easing off this year’s highs. Paulson also highlighted NovaGold as a preferred way to express the bullish view on gold, citing its large resource base and what he described as attractive valuation versus implied gold-in-the-ground value. The interview also mentioned NovaGold shares rising 3.5% on news that Paulson is set to become co-chair. Overall, the piece is supportive of gold and gold-mining exposure, with a clear bullish tone for the metal and related equities.