Britain is facing a gold rush as the price doubles in five years


By Tom Ball
The Times, London
Saturday, May 2, 2020

When gold was first found in California it provoked a frenzy that pushed avaricious Americans to abandon their families and reshaped the United States.

Now, in rural parts of northern Wales and Scotland, a new gold rush is causing a stir as a growing number of amateur prospectors chase the precious metal that officially belongs to the Queen. Thousands more are taking to Britain's rivers in the hope of cashing in on a new gold rush even though they could be breaking the law.

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The doubling in price over the past five years, from about L700 per ounce to L1,400, has renewed interest in UK gold, which is among the rarest in the world. In three years Original Gold Panning UK, the country's biggest amateur prospector group, has gone from being a collective of 40 niche-interest hobbyists to a society of more than 2,000 members, and growing.

Commercial mining companies are also moving in, with several having gained exploratory licences in Scotland and north Wales, where nearly all British gold is to be found. ...

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