Bruce brought the out-of-form striker to the KC Stadium on loan from Sunderland at the start of the season and, despite going 21 games without a goal, the Tigers manager believes he has the ability to shine.
Graham has received plenty of criticism for his lack of goals, although he was the third-highest scoring English striker during the 2011/12 season during his period at Swansea.
However, despite squandering three clear-cut chances in Saturday's 1-1 draw with Cardiff City - one a potential match winner - Bruce remains adamant the frontman will regain his prolific best.
"Unfortunately he has had a lot of injuries and that is his first full 90 minutes in months," he said. "He is clever, he is good to watch, such a clever footballer.
"It has had a bad spell, when you're a striker you just have to stick at it. He has to stay strong. You never lose your ability but you must stay strong mentally.
"Who knows, if he works at it this week he may score the winner against Newcastle next week."
Hull did take the lead against Cardiff when Curtis Davies headed past Joe Lewis five minutes before half-time.
However, Bruce's side surrendered the lead early in the second half when Peter Whittingham netted for the Bluebirds as Hull lost their grip on the tie.
Despite letting the lead slip, the Tigers boss is pleased with the start his side have made on their return to the top flight.
"The season is just starting for us; we have played Chelsea and Manchester City, and have four points," he added.
"We're coming to winter and the season is just starting for us, we have to stay clear of injuries now but the important thing is we are up and running."