As the price of gold hits $4,500 an ounce, hobbyists are diving and digging in rivers to rake in thousands — they're teaching others how to do it, too

Some people, however, are going the extra mile and prospecting for gold themselves, rather than buying an exchange traded fund (2) or selling old jewelry for cash (3). Though, they're certainly doing that, too.

Real-life gold diggers are spending their free time hiking or diving into rivers and creeks to look for a gram and, if they're lucky, a nugget of gold that can turn into a nice payday.

They're even making money teaching others how to do it.

Content creators on YouTube show newcomers how to dig and where to dig, and have garnered hundreds of thousands of followers doing so. One YouTuber (4), Dan Hurd, has amassed nearly 1.5 million followers.

Gold prospecting is harder than it looks

With gold prices at about, it's a bit of an open secret how lucrative digging for gold can be. But most days, gold prospectors will come up empty. It's also labor intensive and requires patience.

"It's not like you're going to find a $10,000 nugget," Kevin Singel, a gold prospector in Colorado, told USA Today in a recent interview. (5) "It's the equivalent to picking up dimes off the sidewalk ‒ eventually you get enough to pay for lunch."

A hard day of shoveling can earn Singel $30 at a nearby ski resort, he told the publication. Still, he has collected tens of thousands of dollars worth of gold over the years. He has sold some to tourists, and with the price of gold so high, his guidebooks have also been selling well.

Another gold prospector in California told The Wall Street Journal (6) that he recently took up the hobby after gold prices rose last year. One day he found a little gold nugget about the size of half a pinky fingernail that was worth $175. Not life changing money, "But then again, it was just sitting out there to be taken," he said.

There's an argument that selling gear, tours, and written guides for gold prospecting can pay off more quickly than actually doing it yourself. It's certainly easier on your body. But it's a hobby many people enjoy and post on social media about.

As another digger told the WSJ, finding the first bit of gold in nature keeps people coming back.

"It's like a heroin addiction," he said.

Why is the price of gold so high?

The price of gold (7) has risen dramatically since the turn of the century, but especially in the last few years — amid geopolitical tension and economic uncertainty. While the stock market has been hitting record highs, everyday Americans are feeling the pinch of the higher cost of living.

The war with Iran drove inflation up 3.8% in April. A difficult job market and high-tariff environment have also made paying for everyday expenses more difficult.