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Gold Fever Sweeps Australia as Prices Surge to Record Highs
11 Oct
Summary
- Gold prices have climbed 45% in 2025, the steepest rise since 1979
- Prospecting is reignited, but the odds of striking it rich remain slim
- Maryborough, at the center of Victoria's Golden Triangle, is a popular destination for prospectors
As of October 12th, 2025, gold prices have skyrocketed 45% since the start of the year, marking the steepest rise in the precious metal's value since the Iranian revolution caused a 126% spike in 1979. This dramatic increase has reignited a prospecting fever across Australia, with many flocking to the country's historic gold-mining regions in search of their own fortune.
One such destination is Maryborough, located at the center of Victoria's renowned "Golden Triangle" - an area encompassing Ballarat, Bendigo, and Wedderburn that produced some of the world's largest alluvial nuggets during the gold rush of the 1850s. The town's Gold Centre has become a hub of activity, with prospectors, both local and visiting, gathering to share stories, seek advice, and prepare for their latest expeditions.
Despite the renewed enthusiasm, experts caution that the odds of striking it rich remain slim. Prospecting requires immense patience and persistence, with tour guide Lachy Green estimating that it can take an entire day of detecting to cover just a tennis court's worth of ground. Still, the thrill of the hunt and the potential payoff continue to captivate gold enthusiasts, who are drawn to the unique sense of community and connection that the pursuit of this precious metal can foster.
