World’s largest gold reserve found in China
The world’s largest gold reserves have been found in China’s Hunan province. According to Xinhua News, there may be 1000 metric tons of high quality gold near Pingjiang County in Hunan. Its value has been estimated to be more than $ 83 billion (7 lakh crores).
Experts said that gold has been clearly seen in the cores of many rocks drilled. Core samples show that 1 metric ton of ore may contain 138 grams (about 5 ounces) of gold. It is considered to be the largest gold reserve discovered in the world so far. It is more than 900 metric tons of gold in South Africa’s South Deep mine.
3D modeling revealed 1000 metric tons of gold
According to the report, more than 40 gold cracks have been found in Pingjiang County. Geologists had earlier estimated 300 metric tons of gold here. However, later using 3D modeling, it was found that the depth of gold cracks is up to 3000 meters. They contain 700 metric tons more gold than estimated.
Chinese officials are doing further research here. Hunan Gold Corporation, which discovered it, says that due to the great depth, it is not known how much gold is in the mine. Due to this, the price cannot be said right now.
10% of the world’s gold is produced in China
China is the world’s largest gold producer. Its share in global production in the year 2023 was about 10%. According to the report of the World Gold Council, China has 2,264 tonnes of gold reserves.
If a country’s currency weakens internationally, then gold reserves help maintain the purchasing power of that country and its economic stability. In 1991, when India’s economy was sinking and it did not have dollars to import goods, it raised money by mortgaging gold and came out of this financial crisis.
Having a lot of reserves means that the country’s economy is strong. It also shows that the country manages its money well. In such a situation, other countries and global financial institutions trust that country more. Gold reserves provide a solid asset to support the currency value of any country.
