Where is china in gold reserve?
China may be at the top in gold production, but when it comes to gold reserve, it lags behind many countries including America. According to the report of the World gold Council, America was at the top in terms of gold reserve in the year 2024. America had 8,133.46 tonnes of gold in reserve till the year 2024. At the same time, germany was at number two in this list. germany has 3,351.53 tonnes of gold lying in reserve. Whereas, italy is at number three. italy has 2451.84 tonnes of gold lying in reserve. france is at number four in this list and russia is at number five. These countries have 2436.97 and 2335.85 tonnes of gold lying in reserve. At the same time, china is at the 6th place in this list. china has 2264.32 tonnes of gold lying in reserve.
How many gold mines does china have?
According to the report of Mining Technology, china currently has 117 gold mines, from where it extracts millions of kilos of gold every year. Apart from this, recently another huge gold reserve has been discovered in China. According to the report of TOI, this gold reserve is located in the middle of Hunan province of China. According to the Geology Bureau of Hunan province, about 300 tonnes of gold is estimated to be buried in this reserve.
Why is china buying so much gold?
China is seeing its bright future in gold. Actually, a country which has a huge reserve of gold strengthens the economy of that country. Apart from this, global financial institutions trust countries with more gold reserves more. Today America has become such a big economy because it has the largest treasure of gold. Apart from this, gold also proves to be the backbone of a country in times of economic instability and threat of inflation. Apart from this, the treasure of gold also reduces the dependence of other countries on the dollar.
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