What is the current gold price in Australia?

The spot price of gold has risen to a record high of A$5,900 an ounce as of October 2025.

How has the gold price increase affected prospecting in Maryborough?

The gold price surge has reignited interest in prospecting, with more people putting in effort to find gold and sell their finds due to the high prices.

What is the significance of the Heron Nugget discovered in Maryborough in 1855?

The Heron Nugget, weighing 1,008 ounces (28.5kg), was the biggest single gold find in the Forest Creek/Mount Alexander diggings, which were considered the richest shallow alluvial goldfields in the world.

Home / Business and Economy / Gold Fever Sweeps Australia as Prices Surge to Record Highs

Gold Fever Sweeps Australia as Prices Surge to Record Highs

12 Oct, 2025

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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

Gold Fever Sweeps Australia as Prices Surge to Record Highs

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.