China has discovered its largest gold deposit since the founding of the People's Republic in 1949, with an estimated value of €166 billion. The find surpasses all previous domestic discoveries in scale, according to the announcement.
Details of the discovery
The deposit's exact location has not been disclosed in initial reports. Officials described it as a major addition to the country's gold reserves, though no further geological details were provided. The valuation is based on current market prices and estimated tonnage.
Speculative price forecast
The same report includes a speculative forecast that gold could reach $4,600 per ounce by July 2026, though it assigns only a 0.5% probability to that scenario. The prediction is not a verified projection and appears to be a long-shot outlier among market models.
The discovery comes as global gold demand remains steady, with central banks continuing to add to their holdings. China is already one of the world's top gold producers, and this deposit could further strengthen its position.
