A Giant Gold Deposit Discovered in China
World
Geologists have discovered over 1,000 tons of gold reserves at the Vangu mine in Hunan province, China.
These reserves are valued at 600 billion yuan ($83 billion). Advanced technologies, including three-dimensional modeling, were used for exploration.
This discovery is expected to influence global gold demand and prices.
Gold prices have risen by 23% since the beginning of the year. Expectations of a Federal Reserve rate cut in the U.S. and ongoing global conflicts may further drive this increase.
Bank of America predicts gold prices could reach $3,000 per ounce.
This discovery is expected to influence global gold demand and prices.
Gold prices have risen by 23% since the beginning of the year. Expectations of a Federal Reserve rate cut in the U.S. and ongoing global conflicts may further drive this increase.
Bank of America predicts gold prices could reach $3,000 per ounce.
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