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China Gold Reserves: China is the world’s largest gold producing country. Now the dragon has found an even bigger treasure of gold. China has found such a huge gold reserve of 82.8 billion dollars in its Hunan Province, whose value in Indian Rupees is estimated to be around Rs 7 Lakh Crore Rupees. Hunan Academy of Geology has identified more than 40 gold ore veins in Pingjiang County, which are estimated to contain 300.2 tons of gold.
China found 1000 tons of gold reserves
Reuters quoted China’s state agency as saying that Dragon has found a huge deposit of gold worth 82.9 billion dollars, which is equivalent to 600 billion Chinese currency yuan, in the middle of Hunan Province. The Hunan Academy of Geology has discovered more than 40 gold ore veins at a depth of more than 2,000 meters in Pingxiang County, with gold resources of 300.2 tonnes and the highest grade of 138 grams per metric ton. According to China’s government agency Xinhua, the group estimated that there are reserves of more than 1,000 tons of gold at a depth of more than 3,000 meters.
China is the largest producer of gold
Let us tell you, China is already the world’s largest gold producing country. According to the World Gold Council, China’s contribution to global gold production in the year 2023 has been 10 percent. Despite this, China’s Central Bank has purchased the most gold since the increasing geopolitical tension at the global level. In the year 2023, People’s Bank of China increased the purchase of gold by 20 percent. According to the World Gold Council, all central banks purchased 1087 tonnes of gold, of which China made the maximum purchase. In the first quarter of 2024, China has purchased 280 tons of gold and this year it is estimated that China can purchase 850 tons of gold. According to Bloomberg report, China has purchased 2800 tons of gold in two years.
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