How The Pandemic Created The Perfect Storm For Discovery's Gold Rush
2020 has unfolded within the deadly shadow of the COVID-19 pandemic. Countries around the globe have had to shut down, and millions of people in the United States alone are still out of work. Many people have been hit hard financially, and plenty still struggle to pay the bills. However, there is one line of work that has seen a boom during this period: The gold mining industry.
That's very good news for the likes of Parker Schnabel, Rick Ness, and all of the other miners on Discovery's Gold Rush reality series. For 10 seasons, viewers have watched these guys venture into the Yukon Territory of Canada to search for fortune. Plans for season 11 were thrown into the air in the midst of the pandemic when Canada closed its borders to the American-based miners on the show, a trial which is detailed in the latest Gold Rush commercial, making the rounds ahead of the show's season 11 debut.
Fortunately, it seems like all of the mining crews were eventually able to make it to the Yukon after following strict quarantine and social distancing protocols. Fans will indeed get to see how the miners got through this tumultuous year. Based on the most recent trailer released, it seems like this was the perfect time for miners to dig their hearts out and make more money than ever before.
The pandemic caused gold prices to soar and gas prices to decline
A lot of financial uncertainty has occurred around the globe as a result of the COVID-19 pandemic. Generally speaking, throughout history, when other tangible assets go on the decline, gold prices tend to skyrocket. That turned out to be the case once more when gold prices reached an all-time high value of $1,902 per troy ounce on July 24th, 2020, according to the World Bank. To make things even better for miners, gas prices also declined during this same time period. The pandemic caused oil prices to drop below $0 per barrel, marking the first time such an event has ever happened. It became cheaper than ever to put fuel into excavators, meaning miners could cut back on expenses to maximize overall profits. While the Gold Rush crews had some issues getting into Canada, it proved to be the perfect time to venture forth into the Great White North to reap profits unlike any of them had ever seen before.
These two forces combined made for a perfect storm that allowed miners to rake in a seriously sizable haul. Past seasons have seen these crews mine thousands of ounces of gold, amounting to millions of dollars. While not everything about the show may be accurate, what is true is the amount of money these guys stand to gain during this upcoming season. Considering how much more valuable gold became in 2020, fans should expect some records to be broken in season 11, which is set to debut on Discovery on Friday, October 23rd.