Heat unsalted butter and olive oil in a Dutch oven over medium-high heat until gently sizzling. Add half the beef; brown on all sides, about 6–8 minutes. Transfer to a bowl. Repeat with remaining beef.
Cook Onions & Spices
Reduce heat to medium, add sliced onion and caraway seeds. Cook until onions are translucent and fragrant, about 5–6 minutes.
Build the Goulash
Stir in sweet paprika and tomato paste; let bloom for 1 minute until the color deepens.
Sprinkle in flour, stirring constantly for 2 minutes to cook out raw flavor.
Return seared beef and any accumulated juices to the pot. Pour in beef broth, scraping up browned bits. Bring to a gentle boil.
Reduce heat to low, cover, and simmer, stirring occasionally, for 45 minutes until the beef is tender and the sauce has thickened.
Remove the lid, stir in heavy cream, and simmer uncovered for 5 minutes until the sauce is silky smooth and softly bubbling at the edges.
Season with salt and freshly ground pepper. Garnish with chopped parsley before serving.
Notes
Make ahead: the goulash tastes even better the next day after flavors meld.Storage: refrigerate for up to 4 days in an airtight container or freeze for up to 2 months.Food safety: cool the stew to room temperature within 2 hours and reheat to an internal temperature of 165°F before serving.
Nutrition
Serving: 1bowlCalories: 450kcalCarbohydrates: 8g
Keyword beef goulash, Comfort Food, Creamy German Goulash, German stew, paprika goulash