It looks as if Americans have traveled back in time to the days of the 19th-century gold rush, but this time, this all comes with the comforts of the 21st century. Amid record-breaking gold prices, people across the US are snapping up pickaxes, sieves, and buckets of “pay dirt” to pan for gold right in their home garages.
In South Dakota, the Big Thunder Gold Mine museum is seeing a real frenzy: demand for gold panning buckets is up 50%. Besides, gold panning lessons are sold out weeks in advance. What was once a quirky hobby is quickly turning into a new economic driver.
Gold prices have shattered another record. As of October 13, the precious metal soared above $4,176 per troy ounce. Analysts at Bank of America predict it could reach $4,900 by December 2026. So, if you have got an old pickaxe gathering dust in the attic, now might be the time to bring it out!
Experts link this modern-day gold boom to trade wars, the US government shutdown, and growing geopolitical anxiety. It seems gold is back in vogue — now seen as the ultimate lifeline for investors wary of the dollar’s high volatility.
In the meantime, silver has also stepped into the spotlight, climbing above $52 per ounce for the first time in years. All in all, precious metals are once again winning favor with investors.
