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John Paulson predicts gold to reach $5000

ByVictoria

Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to U.S. mining projects

Already the largest shareholder in Idaho gold and antimony developer Perpetua Resources, Paulson last week bought a 40% stake in NovaGold’s Donlin gold project in Alaska from Barrick.

“It’s a well-informed prediction. I think that’s a reasonable number,” he said.

“As central banks and people look to put their money in a more stable source… I think gold will increase its position in the world,” he added

Source – Reuters

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