Place lard in a large stock pot and melt on medium high heat.

Prepare Meat

Cut meat into cubes and place in hot stock pot with lard. Brown meat on all sides. Remove meat from pot and set aside.

Sauté Onions

Place diced onions directly into stock pot and sauté until slightly translucent. Add caraway seeds, spicy paprika or crushed red pepper, sweet paprika, garlic and flour and continue to sauté for about 1 minute.

Incorporate remaining ingredients

Add tomato paste, beef broth, bay leaf and cooked beef. Stir all ingredients until incorporated and smooth. If your meat has bones add them to the pot too but be sure to remove prior to serving. Bring mixture to a boil then immediately reduce heat, cover and simmer for approximately 2 hours or until beef chunks become tender. Be sure to stir occasionally so the goulash does not stick to the bottom of the pan and burn.

Serving Hungarian Goulash

If you plan on serving the goulash with rice, noodles or spaetzle start preparing that about 30-minutes before the Hungarian Goulash is done.

Prior to serving remove any unwanted fat pieces, bay leaf and bones. Serve as soup or pour over rice, noodles or spaetzle and enjoy!