Juve chief Fabrizio Paratici is chasing a deal for the Mexico international as they negotiate a contract release for Gonzalo Higuain.
Raul would arrive in Turin as a replacement for the Argentine and as cover for Cristiano Ronaldo.
However, Paratici's opening bid for the striker has been turned down by Wolves.
Corriere dello Sport says Juve proposed a straight swap involving Aaron Ramsey - but it was turned down flat.
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