It has been more than 170 years since the California Gold Rush, but residents are still uncovering gold dust, flakes, and even nuggets shimmering in the state’s rivers.
“Gold’s all around,” said Manny Goza, a prospector searching through the Bear River, while speaking to FOX40 News. Lower water levels during the fall make it easier to access parts of the river that are usually out of reach.
For Goza, who works as a builder, gold panning has proven worthwhile.
“I did it every day. I’ve been here since 2005, bought a house in 2010 because I could pay my bills off the gold,” he said. “When I’m not contracting, I’m here digging gold.”
With gold prices climbing more than 70% over the past year, the metal is once again attracting locals hoping to find opportunity close to home.
Goza said an amateur prospector might earn around $50 a day, while more dedicated hunters could make anywhere from $100 to $15,000.
Just like during the original Gold Rush, success often depends on luck. One prospector described a moment when a nugget “just rolled out — it was completely round like a baseball and it was half gold.”
Still, the work is physically demanding. As another prospector explained, gold “doesn’t jump into the pan.”
And there are no guarantees.
“It’s emotional, some days you find $15,000, some days you don’t find anything,” Goza said.
Not everyone has the time or strength to search riverbeds for gold. However, gold remains attractive as a store of value, and several major financial figures continue to encourage investors to include it in their portfolios.
Wall Street leaders spotlight gold
Ray Dalio, founder of Bridgewater Associates, has repeatedly emphasized gold’s importance.
“People don’t have, typically, an adequate amount of gold in their portfolio,” Dalio told CNBC. “When bad times come, gold is a very effective diversifier.”
Gold is often seen as a safe haven. Unlike fiat currency, it cannot be printed endlessly, making it a natural hedge against inflation. It also operates independently of any single country or economy. When markets become unstable or geopolitical tensions rise, investors often turn to gold, driving prices higher.
On LinkedIn, Dalio wrote, “I think most people make the mistake of thinking of gold as a metal rather than as the most established form of money,” adding that gold does not carry the same credit and devaluation risks as fiat currency.
Jeffrey Gundlach, founder of DoubleLine Capital and widely known as the “Bond King,” echoed that view. He recently said allocating 25% of a portfolio to gold “is not excessive,” describing the metal as “an insurance policy” likely to stay strong amid continued dollar weakness.
Investing in gold through an IRA
JPMorgan CEO Jamie Dimon has also suggested that gold could “easily” reach $10,000 an ounce. In December, gold’s spot price reached $4,484, nearly half of that estimate.
For investors seeking both growth potential and tax advantages, opening a gold IRA is one option. Gold IRAs allow individuals to hold physical gold or gold-related assets inside a retirement account, combining tax benefits with gold’s protective qualities.
With a minimum purchase of $10,000, Goldco offers free shipping and access to retirement resources, along with matching up to 10% of qualified purchases in free silver.
Gold protects — real estate delivers income
Gold’s rising value reflects the declining purchasing power of fiat currency. According to the Federal Reserve Bank of Minneapolis, $100 in 2025 holds the same buying power as just $12.05 did in 1970.
Real estate has also helped investors preserve wealth. As inflation rises, property values often increase due to higher material, labor, and land costs. Rental income typically grows as well, offering returns that adjust with inflation.
The U.S. Census Bureau reports that housing prices have increased by more than 225% over the past 30 years. In recent years, those gains have accelerated.
“Since the pandemic, home price appreciation has outpaced wage growth, making starter homes less attainable for many,” said Bill Merz, head of capital markets research at U.S. Bank Asset Management Group.
Many Americans now rely on multiple income streams to afford a home. Goza eventually purchased his house after years of gold prospecting alongside his contracting work.
Indirect ways to invest in real estate
High home prices and elevated mortgage rates have made buying property more difficult. Managing a rental property also requires significant time and effort.
For those seeking alternatives, real estate crowdfunding platforms offer indirect exposure. Arrived allows investors to purchase shares of rental homes with as little as $100, without the responsibilities of being a landlord.
Backed by major investors, the platform lets users choose from vetted properties and earn potential rental income distributions.
Exploring commercial real estate
Beyond residential properties, investors can also consider commercial real estate. Firms like First National Realty Partners offer accredited investors access to grocery-anchored commercial properties, providing diversification without direct property management responsibilities.
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