It has been called the saint-seducing metal, with good reason.As the price of gold rests near record highs, people from Spokane to Bangkok are selling jewelry or buying bullion,some are giving up steady jobs to take to panning while theft of gold chains and watches is on the rise worldwide.
"Panning for gold is becoming a real family affair, more popular now because of the gold price," says Cordell Kent, who sells do-it-yourself mining equipment in the 19th century Australian gold rush town of Ballarat.
"Some people I know are making hundreds, even thousands of dollars on the weekends."
Locals say rising prices and heavy rain earlier this year are leading to a surge in amateur prospectors, looking for flakes of gold washing up on river-beds.
"We're seeing a whole new gold rush now around Ballarat," Kent says.
Spot gold sells now for $1,830 an ounce, up nearly a third this year. With currencies and stocks faltering and prices of other commodities held back by slowing economic growth, the frenzy for gold has gone global.
Many are cashing in on the gold they have at home -- or on gold teeth -- although the trend is slowing in the belief prices will rise further.
"The most disgusting thing I had to deal with was a rotten tooth with a gold crown from a customer's grandmother who died," said Munehiro Otsuki, the manager of a gold store in the Shinjuku district of western Tokyo.
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