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Are there bullish calls for gold? "Wall Street Sky God" joins: Still in the early stages of a long-term bull market

2026-07-23·newswire-us-stock-021556
Are there bullish calls for gold? "Wall Street Sky God" joins: Still in the early stages of a long-term bull market.

Although gold has experienced a correction for several months and has continued to hover around $4,100 an ounce in recent days, U.S. billionaire and hedge fund manager John Paulson said on Wednesday that he believes gold is in the early stages of a long-term rise. He said on a show that day: "We are in the early stages of a long-term bull market for gold.

As people lose confidence in paper currency, gold will continue to grow as an alternative currency." Paulson believes that demand for gold will continue to expand, driven by central banks' increasing reserves and growing interest from the private sector. "Gold is becoming the most suitable reserve currency in the world, replacing fiat currencies.

Demand from central banks, for example, continues to grow, as does demand from the private sector," he added. Paulson entered the hedge fund industry in the 1990s and shorted approximately US$25 billion in mortgage-backed securities during the subprime mortgage crisis, earning huge profits of US$15 billion for his clients.

He was known as the "Wall Street God" and "the number one hedge fund man." The billionaire investor also said investors would benefit more from owning gold mining companies than gold itself, especially those with large untapped reserves. “I think the best way to invest is in early-stage gold stocks,” he said.

Paulson's comments came as NovaGold Resources, of which he is co-chairman, announced it would acquire Paulson Advisers' 40% stake in the Donlin Gold project in Alaska. He said that because the company has a large resource base, it can provide investors with leveraged opportunities to profit from rising gold prices.

Paulson said: "NovaGold has 40 million ounces of proven and measured gold resources and reserves, with a market capitalization of $4.2 billion. I think the best way to invest in gold is through a stock like NovaGold, if not directly in NovaGold itself." At the same time, there are frequent voices on Wall Street that are optimistic about gold.

Sameer Samana, global head of equity and real asset strategy at Wells Fargo, believes that gold prices have reached a stage where downside risks are becoming increasingly limited, while long-term upside potential is still considerable.

Regardless of whether oil prices remain elevated or whether the Federal Reserve ultimately raises interest rates further, much of these risks are already priced into gold prices, he added. The bank predicts that gold prices will rise to US$5,300-5,500 and US$5,800-6,000 per ounce by the end of 2026 and 2027 respectively.

Paul Wong, managing partner and market strategist of investment management company Sprott Inc., also recently said that from all meaningful indicators, gold is seriously oversold and is likely to bottom out before September, while currency depreciation is the fundamental driving factor that pushes gold prices to reach the next all-time high.

However, there are still analysts who have reservations. Gold futures rose for a second day on dip buying on Wednesday, supported by a weaker dollar and technical buying.

This week's rally "appears to be driven more by fresh buying interest following a consolidation period than substantive changes in the geopolitical or macroeconomic environment," ING analysts wrote. "Although tensions in the Middle East remain supportive of precious metals prices, the market is weighing weak U.S.

economic data against inflationary risks from rising energy costs," the analysts added.

#Stocks #Fed #Gold #Oil #Earnings

Full text

Are there bullish calls for gold? "Wall Street Sky God" joins: Still in the early stages of a long-term bull market

Although gold has experienced a correction for several months and has continued to hover around $4,100 an ounce in recent days, U.S. billionaire and hedge fund manager John Paulson said on Wednesday that he believes gold is in the early stages of a long-term rise. He said on a show that day: “We are in the early stages of a long-term bull market for gold. As people lose confidence in paper currency, gold will continue to grow as an alternative currency.

Although gold has experienced a correction for several months and has continued to hover around $4,100 an ounce in recent days, U.S. billionaire and hedge fund manager John Paulson said on Wednesday that he believes gold is in the early stages of a long-term rise. He said on a show that day: "We are in the early stages of a long-term bull market for gold. As people lose confidence in paper currency, gold will continue to grow as an alternative currency." Paulson believes that demand for gold will continue to expand, driven by central banks' increasing reserves and growing interest from the private sector. "Gold is becoming the most suitable reserve currency in the world, replacing fiat currencies. Demand from central banks, for example, continues to grow, as does demand from the private sector," he added. Paulson entered the hedge fund industry in the 1990s and shorted approximately US$25 billion in mortgage-backed securities during the subprime mortgage crisis, earning huge profits of US$15 billion for his clients. He was known as the "Wall Street God" and "the number one hedge fund man." The billionaire investor also said investors would benefit more from owning gold mining companies than gold itself, especially those with large untapped reserves. “I think the best way to invest is in early-stage gold stocks,” he said. Paulson's comments came as NovaGold Resources, of which he is co-chairman, announced it would acquire Paulson Advisers' 40% stake in the Donlin Gold project in Alaska. He said that because the company has a large resource base, it can provide investors with leveraged opportunities to profit from rising gold prices. Paulson said: "NovaGold has 40 million ounces of proven and measured gold resources and reserves, with a market capitalization of $4.2 billion. I think the best way to invest in gold is through a stock like NovaGold, if not directly in NovaGold itself." At the same time, there are frequent voices on Wall Street that are optimistic about gold. Sameer Samana, global head of equity and real asset strategy at Wells Fargo, believes that gold prices have reached a stage where downside risks are becoming increasingly limited, while long-term upside potential is still considerable. Regardless of whether oil prices remain elevated or whether the Federal Reserve ultimately raises interest rates further, much of these risks are already priced into gold prices, he added. The bank predicts that gold prices will rise to US$5,300-5,500 and US$5,800-6,000 per ounce by the end of 2026 and 2027 respectively. Paul Wong, managing partner and market strategist of investment management company Sprott Inc., also recently said that from all meaningful indicators, gold is seriously oversold and is likely to bottom out before September, while currency depreciation is the fundamental driving factor that pushes gold prices to reach the next all-time high. However, there are still analysts who have reservations. Gold futures rose for a second day on dip buying on Wednesday, supported by a weaker dollar and technical buying. This week's rally "appears to be driven more by fresh buying interest following a consolidation period than substantive changes in the geopolitical or macroeconomic environment," ING analysts wrote. "Although tensions in the Middle East remain supportive of precious metals prices, the market is weighing weak U.S. economic data against inflationary risks from rising energy costs," the analysts added.

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