Paulson Sees Gold Market as 'Early-Stage Bull' Despite Price Dip

Despite gold's recent pullback, billionaire hedge fund manager John Paulson believes that the metal is still in the early stages of a long-term bull market.

The US-Iran conflict has dampened hopes of gold reaching another record high this year, with investors viewing the metal as riskier amid a potentially high-interest-rate environment.

Gold has retreated nearly 25% to around $4,000 per ounce since hitting an all-time high in January, but Paulson remains optimistic about its prospects.

'As people lose faith in paper currencies, gold as an alternative will continue to grow,' Paulson said.

Paulson also believes that investors stand to benefit more from owning gold miners than bullion itself, particularly companies with large undeveloped gold resources.