What reason did the English have for thinking there would be gold in New York?

The English believed there would be gold in New York due to early reports from explorers and the accounts of Indigenous peoples that spoke of rich resources and precious metals in the region. Additionally, the allure of gold and wealth drove many European powers to seek out new territories, and the success of Spanish conquests in the Americas heightened expectations for similar finds elsewhere. This belief in the potential for wealth motivated English colonization efforts in the area.