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Would You Still Be Detecting For Gold If The Price Was Under $300 Per Ounce?


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Just an observation. The price of gold as measured in U.S. dollars has been remarkably stable, averaging around $1200 per Troy ounce for going on four years now. This chart was generated at Gold.org starting in July 2013. Click on image to enlarge.

gold-price-usd-july-2013-until-march-2017-3-years.jpg

Of course the currency used makes a difference. While gold has been stable or even slightly declined in U.S. dollars over the last four years, it has overall been on the increase as measured in Australian dollars.

gold-price-aud-july-2013-until-march-2017-3-years.jpg

In my opinion rising gold prices have had a lot to do with keeping many of us in the field still metal detecting for gold. In the U.S. and Australia the easy detectable gold has been playing out, and where finds were once measured in ounces per day finding grams per day is now more common. Yet when I started getting serious about metal detecting for gold around 1998 the U.S. price was under $300 per ounce. Back then if I could detect eight ounces of gold in a week and get the full price for it, I would have been looking at around $2400. Now at $1230 I only have to find about 2 ounces of gold in a week to net the same $$2400. Of course a buck is not worth what it used to be, but in my opinion this overall increase in the price over the last 20 years is propping up the electronic prospecting in older, played out regions. And while prices have been stable here the last four years you Aussies have actually seen a bit of increase over the last couple year - that has to help. I wonder how many people would still be out detecting for gold if it was still under $300 per ounce?

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Good question. I think I would be. But maybe not as often. And almost definitely wouldn't have bought a Z and an SDC - maybe just the SDC.  

It's too horrible to even think about Steve :ohmy::ohmy::ohmy:

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I enjoy the thrill of the hunt! Some people fish, some hunt, but for me nothing is better than putting on the gear and detecting gold nuggets. I too started detecting for gold around 1998 and have found it one of the most relaxing and enjoyable things that can free my mind of all the stresses of life.

The adventure of exploring new places and prospecting is in my veins and always will be. Regardless of the spot price, I will always spend as much of my free time as possible (hard to find any of that these days) prospecting and detecting for gold.

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When I started it was $240/OZ, but that is another story.  The way I look at it is a Dollar is not always a Dollar. BUT an ounce of gold is ALWAYS an ounce of gold.  So, yes I would.   

That being said, I don't get out looking for gold that much anymore but I certainly still deal with gold on a daily basis. Personally I like the price/stability around where it is these days......

 

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Prospecting & detecting is more of a lifestyle choice than anything close to a moneymaking opportunity.  Dont get me wrong,  selling a little gold when I want a new detector is very nice when the spot price is high.  

Mine is a personal battle to conquer and become the best I could possibility be at that sport or activity.  

My motto is " Show me a good loser, and I will show you a loser. "

When I loved basketball,  I worked hard to be a well rounded player. We won the championship of all of Northern State. I could dunk the basketball like a pro.

When I loved fishing,  I slayed  the fish of all of Northern California.  Learned to tie flies and became at expert fly fishing . 

Prospecting came real easy to me. In the wet placer fashion.  Because I had a family of great mentors. But electronic prospecting has been a bit of a challenge for me in the beginning.  Mostly because I didn't know the basics and had no mentoring.  But when I joined WSPA. I got with a group that emensily shortened my learning curve. (Klunker and C. Porter) I am so thankful for their knowledge.  

This is a activity I can take with my up into my old age. So no, gold spot price almost has no bearing on me being a prospector.

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Yes I would.

I too have met quite a few good friends and there's no replacement for the great outdoors. The northwest is truly beautiful place to enjoy yourself. Hunting for and better yet, finding gold is frosting on the cake.

 

Mike

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Nope. I feel I was born to do this, but I don't live near goldfields where I can go out for fun. I love the freedom and adventure, but that alone doesn't buy food unfortunately. I'd do more of what I'm doing now and diversify my search into other minerals closer to me and start mumbling a lot about the "good ole days".

The only exception I could see is if they loosened regulations significantly where I could roam around with a backhoe and dozer like they did up until the 80's, and do some actual prospecting for commercial grade deposits. Or if they came out with something a leap ahead of the GPZ even.

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