Hopes for a "Modern Day" Gold Rush

In our last post, we talked about the most profitable gold rush in all of history, The Australian Gold Rush of 1851. But now, after the recent discovery of a $460,000 gold nugget in Nevada County, California, there are hopes for a newer “modern day” gold rush.

The trigger of new attention to the Nevada County was this gold nugget pictured above, weighing in at 8.2 pounds, it was sold for the 460k at a Sacramento auction. Reports say that the man who discovered the gold (who keeps anonymity to his name) did so using only a metal detector, and in his own backyard.

Since the discovery of the 460k gold nugget, more gold has been found in the old gold harvesting valley of Nevada County, and geologists as well as prospectors are convinced that there is still more gold to be found.

"And there's no question, obviously, that there's still gold out there in those hills," said Don Edgeman, the owner of a nearby store.’- http://www.wdam.com/story/14512726/geologist-search-for-gold-after-460k-nugget-was-found

With the value of gold continuing to rise and even reaching its highest record breaking price ever in recent weeks, what does the future hold for gold?