Central China discovers gold deposit worth over $80 billion

A significant gold deposit was discovered in central China, containing an estimated 1,000 metric tons of gold. Valued at around US$83 billion, this find could surpass the South Deep mine in South Africa, previously considered the largest. The Geological Bureau of Hunan Province reported 40 gold veins in Pingjiang County, with initial estimates suggesting 300 metric tons of gold. Core samples indicate high-quality ore, with up to 138 grams of gold per metric ton. China's gold reserves were over 2,000 tons in early 2024, and the new discovery may further increase its dominance in the global gold market. The announcement has already influenced rising gold prices amid economic uncertainty.