Valgoglio is situated at 929 metres in the upper Valle Seriana on a large mountain terrace to the right of the River Serio with the hamlets of Novazza and Colarete and preserves intact the natural scenery of a civilisation respectful of the local environment. It takes its name from the Goglio stream, which in turn seems to come from the Lombardy word ‘goi’ meaning a stretch of river where the water is very deep due to holes dug in its bed.
In olden days, the village’s activities were closely associated with those of Gromo. In medieval times, steel work and the production of steel weapons was rife. Novazza became famous because of its uranium mine, which was never developed. All of Valgoglio’s territory is, however, rich in minerals, which includes a native kind of gold. The village’s economy is generated by the exploitation of its agricultural and forestry resources, summer tourism and the hydroelectric industry.