A substantial gold deposit, the largest of its kind in China since 1949, has been discovered in the Dadonggou area of Liaoning province. The Chinese Ministry of Natural Resources confirmed the deposit contains approximately 1,440 tons of extractable gold, valued at 166 billion euros based on current prices. This discovery was executed by the Liaoning Geological and Mineral Group over 15 months, involving nearly 1,000 technicians. The deposit is classified as “ultragrande” but features a low-grade concentration of 0.56 grams per ton. With gold prices currently at historical highs, the new supply could influence the market’s outlook.
Key Takeaways
The discovery of a large gold deposit in China suggests increased supply expectations, potentially impacting gold prices.
Current market pricing suggests a decrease in the likelihood of gold reaching $4,600 in July 2026.
The discovery has been classified as “ultragrande” but is low-grade, which may moderate its market impact.
