Why would Sterling Canyon, a purveyor of fine Sterling and gemstone jewelry trek to California to pan for Gold? No, Sterling Canyon is not planning to sell and buy Gold. We’ll leave that to the “you get $700/ounce Gold and we”ll keep the rest” guys. Gold is valued on the commodities markets at around $1650/ounce. So why are thousands of people packing it up for the weekend and heading to the San Gabriel River, about one hour east of L.A. Because theres gold in them waters, that’s why. According to Smithsonian, “Scores of hard-core prospectors work the San Gabriel, and perhaps 50,000 people throughout the state prowl a few weekends a year with pans and metal detectors and dowsing rods. If they’re lucky, they find yellow powder as fine as flour, “clinkers” (big nuggets named for the pleasing sound they make on the bottom of a pan) or sculptural crystalline specimens that, stared at long enough, resemble lace doilies and dragons. This area of the river is called “Nugget Alley”. If your lucky, you’ll catch a 5-ounce nugget. These are the modern 49ers. And there is still Gold to be had.
Current Precious Metal Prices