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17 Aug 2011

Gold Fever Gripping the Australian Outback

As the price of gold soars on concerns about the health of the global economy, more and more people are giving up lucrative day jobs for a chance at the quick riches and adventure offered by old-fashioned prospecting reports the New York Times.

"Gold prices are up 23 percent since the beginning of this year alone. As a result, more and more people are giving up lucrative jobs in cities in Australia for a chance at the quick riches and adventure offered by old-fashioned prospecting. ...

... 'People have never been really game enough to let go of their security of having their job and their home," Ms. Ellis said. "But what I'm seeing is lifestyle change and that this is something where you can actually make money. It can be a life-changing event. All you need is a nugget, and it's a life-changing event.' ...

... One defining feature of the current gold rush, many say, is the age of those joining up. Whereas prospecting for gold has traditionally been a hobby associated with the elderly, many of those moving out to the country are well below retirement age."

Read the full article at the New York Times website.

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