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Global gold prices drop by 5% due to Hunan gold reserve by June 30, 2025?
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Global gold price indices such as those from the World Gold Council or major financial news outlets
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China Finds 1,000-Ton, $83 Billion Gold Reserve in Hunan Province
Nov 24, 2024, 07:26 AM
Chinese geologists have discovered a superlarge gold deposit in Hunan Province, estimated to contain over 1,000 tons of gold worth approximately $83 billion (600 billion yuan). The reserves, found beneath the Wangu gold field in Pingjiang County at about 2 kilometers below ground, consist of over 40 gold veins. This discovery could significantly impact the global gold market by adding about 0.5% to the world's gold supply, potentially affecting gold prices and enhancing China's economic influence in global financial markets.
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