What does Gold Nuggets have do with today’s gold prices?

Thursday , 16, March 2023 Leave a comment

Gold nuggets. The pot of pure gold price today, said to be located at the end all of the rainbow, has been sought out by man for centuries. It has never been found.

There are many forms of gold that can be found today. Extreme heat and chemical reactions deep beneath the earth result in gold formation. It is pulled up towards the surface under extreme pressure and dispersed within the rock that makes up its surface.

Some of the golden metals are found in veins. But, most of it is found within solid rock. Different ways of extracting gold from rock can be used.

First is hardrock mining. Once the ore bodies are found, a shaft is dug down. The rock bearing the ore is lifted to the surface and crushed until it becomes very fine. The fine gold is then taken to the surface and crushed using chemicals. The mining industry is vast and we will limit this article to:

Placer mining. Some of that gold is found within veins just below the ground and can be found under streams. Over millions years, the rock containing gold is exposed to the effects erosion. It finds its way into the streams and moves along the creek bed. The water acts on the pieces and nuggets to make them reach bedrock.

Gold prospectors spent thousands of dollars trying to find the gold. Over 5,000 Years ago, the Egyptians found gold jewelry and trinkets among their elite.

There have been many Gold Rushes over time. Nevada, Arizona, California, and Arizona have seen their fair share. In 1850, there was much speculation about the Fraser river in British Columbia.

The Yukon gold rush of 1890 produced gold worth millions of dollars. There were at least 35,000 people who left their homes to go to the Yukon to find their fortunes. Many didn’t earn a penny from their efforts.

Here’s how it would look if a prospector found nuggets at a stream during the early years.

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