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Gold reserves worth about $83 billion discovered in China

Photo: Dai Bin/XinHua/Global Look Press

Geologists discovered more than 40 gold-bearing veins at a depth of two kilometers. Their reserves are estimated at 300 tons.

Gold veins with metal reserves worth $82.8 billion have been discovered in China’s central Hunan province. Xinhua reported this on Thursday, November 21, citing the province’s Geological Bureau.

Geologists found a total of more than 40 gold-bearing veins with a reserve of 300 tons of gold at a depth of 2 thousand meters under the Wangu deposit in Pingjiang County.

“Experts agree that the size of the mineral deposits in the Wangu gold deposit assumes that at a depth of more than 3 thousand meters, the gold reserves will reach more than a thousand tons,” the report said.

New technologies, including three-dimensional modeling, were used to find deposits in the field.

Global demand for gold in the third quarter of 2024 increased by about 5% and crossed the $100 billion mark for the first time.

Earlier on Wednesday it was learned that the price of gold crossed the level of $2,800 per ounce for the first time. The precious metal rose in price against the backdrop of the American presidential campaign and expectations of further cuts in interest rates in the United States.

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Source: korrespondent

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