$900-an-ounce price sets off 2nd gold rush

[NNN0LHI]

http://www.suntimes.com/news/nation/760937,CST-NWS-gold26.article

ALASKA | Prospectors this time are seasonal workers, retirees as Mideast troubles reverberate in North America

January 26, 2008
BY ASSOCIATED PRESS

GIRDWOOD, Alaska -- The snow is still knee-high along the banks of Crow Creek, where men are crouching up to their chests in near-freezing water, and the air is several degrees colder.

But for Mike Telgenhoff and his companions, this is a fine day to look for gold.

''We do real good in the wintertime because the creek's so low,'' said Telgenhoff, dressed in a sopping leather hat and drysuit. ''I've made a lot of money at it, but I've spent a lot, too. You don't get rich doing this.''

But with gold prices reaching an all-time high of $900 an ounce and the economy slumping, Alaska expects to see more and more people trekking to the edge of the continent in search of gold.

Telgenhoff and two other miners normally have this valley southeast of Anchorage all to themselves after the winter freeze. But once the spring thaw arrives, they anticipate seeing additional prospectors.

[pitohui]

1. no kidding, i know someone going to south africa to re-open a gold mine

i've been looking at my old metal detectors a bit differently myself these days...

(of course the guy i know is working for a large corporation not panning for gold like the guys in your article)

but it really makes you stop and think