China's Hunan province has made a groundbreaking discovery - a massive gold deposit worth approximately $83 billion in the Wangu goldfield of Pingjiang County. This site is considered one of the largest gold finds in recent history, with estimated reserves of 1,000 tons of gold.

*Key Details:*

- *Location*: Wangu goldfield, Pingjiang County, Hunan Province, China

- *Estimated Value*: Approximately $83 billion (600 billion yuan)

- *Gold Content*: Around 1,000 metric tons, with concentrations up to 138 grams per ton

- *Depth of Veins*: Found at depths ranging from 2,000 to over 3,000 meters

*Impact:*

- *Boost to China's Economy*: The discovery is expected to create thousands of jobs, generate significant tax revenues, and strengthen China's position as a global leader in gold production.

- *Global Market*: The find could temporarily affect global gold prices and bolster China's gold reserves, potentially influencing the global gold market.

- *Technological Innovation*: The additional gold could accelerate developments in electronics, health, and energy, particularly in high-performance microchips and emerging technologies ¹.

Source: Union Rayo