Locals in California are rediscovering gold in the state’s rivers, with nuggets, flakes, and dust being found once again. The fall season’s lower water levels are making it easier for prospectors to access areas typically off-limits. Gold prices have surged over 70% in the past year, drawing renewed interest in the precious metal (1).

Prospectors like Manny Goza have found success panning for gold, with potential earnings ranging from $50 to $15,000 a day. However, striking it big still relies heavily on luck, as one prospector discovered a baseball-sized golden nugget while panning (2).

Renowned investors like Ray Dalio and Jeffrey Gundlach are advocating for gold as a key asset in investment portfolios. Dalio emphasized gold’s importance as a diversifier and hedge against inflation. Gundlach recommended a 25% portfolio allocation to gold, calling it an essential insurance policy (3).

JPMorgan CEO Jamie Dimon predicted that gold could reach $10,000 an ounce, citing ongoing dollar weakness as a driving factor. With gold’s spot price nearing $4,484, Dimon’s forecast may not be far off (4).

For those looking to invest in gold while enjoying tax advantages, opening a gold IRA with companies like Goldco can be a viable option. Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, combining the benefits of an IRA with the protective nature of gold investments (5).

Read more at Yahoo Finance: Local residents keep finding remaining gold from the California Gold Rush