**China Unearths World's Largest Gold Deposit Worth Over $80 Billion**

A groundbreaking discovery has been made in central China where a massive gold deposit valued at an astounding US$83 billion has been unearthed. Located in Pingjiang County, Hunan Province, the find involves an estimated 1,000 metric tons of high-quality gold ore distributed across 40 veins, marking it as the richest gold deposit known to date.

Geologists involved in this remarkable discovery have confirmed the presence of high-grade gold, noting that core samples from the site revealed visible gold, a rare and valuable indication. Chen Rulin from the Geological Bureau of Hunan Province highlighted the significance, stating, "Many drilled rock cores showed visible gold." The average ore grade far exceeds industry standards, boasting as much as 138 grams of gold per metric ton, compared to the 8 grams per metric ton deemed high-grade typically.

Surpassing the reserves of South Africa's renowned South Deep mine, this new deposit places China at the forefront of the global gold market. The country already boasts over 2,000 tons of gold reserves and contributes around 10 percent of the world's gold output. This new discovery will substantially enhance China's gold resources, potentially reshaping global gold supply and price dynamics.

The news has caused gold prices to soar amid ongoing global economic uncertainty, as the market anticipates the impact of this significant expansion in available high-grade gold. The discovery poses promising prospects for further exploration, as core samples from the periphery suggest the potential for even more extensive deposits.

This monumental find not only fortifies China's status in the gold mining industry but also challenges existing theories about the limits of economically viable gold extraction. As the industry evolves, the Pingjiang gold deposit could herald a new era in gold exploration, unveiling untapped resources and advancing mining techniques.