World's Largest Gold Reserve Discovered in China

China has unearthed the world's largest gold reserve in the Hunan Province. This reserve is estimated to contain over 1,000 tons of gold, located nearly three kilometres beneath the Earth's surface. This discovery is expected to strengthen China's economy and help meet its domestic demand for gold.
According to the Hunan Geological Academy, the gold reserve was discovered in the Ping Jiang County, where samples from the Wangu Gold Area were analysed by experts. This gold deposit, found at a depth of three kilometres, includes 40 identified gold veins. The total value of the reserve is estimated to be around $83 billion.
The World Gold Council's data highlights that China is already the world's largest gold producer. In 2023, China accounted for 10% of global gold production. During the first three quarters of the year, China consumed 741 tons of gold, while its domestic production was 268 tons, indicating a reliance on imports to meet its demand.
This newly discovered reserve is set to reduce import dependency and boost China's economic and industrial capabilities.