Newscasts - Soaring prices spur new generation of Australian gold hunters

Value Exchange International

30/12/2025 06:50

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_gsqyvown&referenceId=tag:reuters.com,2025:newsml_RW305730122025RP1_K15&pageId=Newscasts
Source: 'Reuters - General news videos'

Description: Hobbyists are flocking to Australia's "golden triangle" in the heart of Victoria state, known as one of the world's most bountiful regions for gold nuggets. The 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. Syakir Jasnee reports.

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Video Transcript:

In Australia's historic goldfields, 63-year-old Vicki Plumridge was just learning to use a brand-new metal detector, but what she found in the forest west of Melbourne made her happy.

I feel very good, very happy. My heart's singing a nice tune.

And this is this the first time you found gold with this new detector?

Yes. And it's the biggest piece I've ever found.

After digging out the small golden nugget, a guide estimated it was around 0.2 grams of gold, worth about $26. And stories like Vicki's are becoming more frequent. Hobbyist gold hunters are flocking to Victoria's 3,700 square mile Golden Triangle, a hotspot for nuggets. They're drawn by soaring prices for the precious metal, which has recently hit record highs above $4,500 per ounce. Enthusiasm is also whipped up by social media posts and popular TV show "Aussie Gold Hunters". For 39-year-old construction worker Damian Duke, the dream is making a big find.

Seeing what nuggets they're finding out there and what they're actually getting for them is definitely a big boost because that can help us pay off a lot of bills, take kids out, and stuff like that. So, it's a big kicker for me.

Business is picking up for places like Gold Centre, a metal detecting equipment supplier northwest of Melbourne. The Minelab Gold Monster 2000, a popular model costing almost $2,000, sold out across Australia soon after its launch. Such new detectors have a better chance of finding nuggets, driving prospectors to buy the latest models as soon as they come out. In Victoria, anyone searching for gold needs a permit from the state government. Known as the "Miner's Right", it allows them to fossick using only hand tools and to keep any gold they find. Demand has hit record levels this year with nearly 16,000 issued by November, up from about 11,000 the year before. That is according to authorities in Victoria, who said there are now more than 100,000 permits in the state.