Why Jefferies’ Chris Wood, billionaire John Paulson say gold’s long term bull market is just getting started
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Renowned investors Chris Wood of Jefferies and billionaire hedge fund manager John Paulson recommend gradually accumulating gold and gold mining stocks, viewing the recent 7% year-to-date pullback as an entry point in what they see as a long-term bull run. Paulson argues gold is becoming the most apt reserve currency, replacing fiat currencies, supported by sustained central bank buying and eroding faith in paper currencies, with gold prices having roughly quadrupled since 2009 to cross the 5,000 dollar threshold. Wood draws parallels to the dot-com bust, suggesting an AI capex collapse could trigger a shift toward monetary easing and benefit gold, while India is flagged as a key wildcard market for gold demand in the second half.