Soaring prices spark Australia gold rush for new generation of fortune hunters [BNN Bloomberg (Canada)]
Goldman Sachs Group, Inc. (The) (GS)
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Source: BNN Bloomberg
The retired retail worker was learning how to use her new metal detector when it started bleeping by the moss-covered ruins of a building. After Plumridge dug the nugget out of the shallow dirt with a plastic trowel, a guide estimated it was around 0.2 of a gram of gold, worth about A$40 (US$26.58). “But to me, it's worth a million dollars,” said the 63-year-old, who had bought the detector only a few days before. “My heart is singing.” Plumridge's story is becoming more common, as hobbyists flock to Australia's 9,600 sq km “golden triangle” in the heart of Victoria state, known as one of the world's most prospective regions for gold nuggets. Prospectors have been spurred on by record gold prices, social media, the success of TV show Aussie Gold Hunters, and a love for the outdoors, according to Reuters interviews with a dozen gold hunters. Plumridge's detector, Minelab's Gold Monster 2000, which she bought for A$2,999, sold out across the country within weeks of its Oct. 20
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