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If China really controls more than 2,000 tons of underground gold, will the global financial balance be entering a "new golden era" that makes the US and the West wary?
China's consecutive confirmation of two super gold mines, Van Co in Hunan and Dai Dong Cau in Liaoning, is causing great shock to the international financial community.
Not simply a mineral discovery, this is also a directly related story
• National strategic reserve
• Global currency war
• World gold price
• Impact on the USD
• Resource strength in times of geopolitical instability
OVERVIEW OF CHINESE 2 SUPER GOLD MINES
Gold mine Area Estimated reserves Conversion value
Van Co Hunan More than 1,000 tons About 2.1 million billion VND
Dai Dong Cau Liaoning Nearly 1,500 tons About 3.2 million billion VND
The total theoretical value of the two mines at current gold prices may exceed
about 5.3 million billion VND
This number is larger than the GDP of many small countries combined
GOLD PRICES AND SILVER PRICES ARE REACTING EXTREMELY STRONGLY
Immediately after information related to Donald Trump's geopolitics and trade policies, the precious metals market reacted strongly.
Asset Increase
World gold price +1.4%
World silver price Nearly +4%
Mining stocks Tang strong in many markets
Investors are now starting to worry about a new race to accumulate gold between major powers
THE SCARY THING IS NOT THE VOLUME OF GOLD
Geological experts say the most notable point lies in the stratigraphic structure of the Dai Dong Cau mine
This area is located close to the Tan-Lu fault, which was previously assessed as not having enough economic exploitation value
But modern surveying technologies have proven the opposite
This opens up possibilities
There are also a series of "forgotten super mines" underground in China and many other countries
COMPARISON WITH MAJOR GOLD MINING COUNTRIES
Country Annual Gold Production
China About 370 tons
Russia About 310 tons
Australia About 290 tons
Canada About 200 tons
If all new reserves are completely confirmed, these two mines alone could be equivalent to many years of world mining output.
WHAT IS CHINA DOING?
Beijing has continuously increased its national gold reserves over the years to reduce its dependence on the USD
Parallel to that
• Expanding payments in RMB
• Increase gold purchases from central banks
• Promote strategic mining
• Control rare resources
Analysts say that gold is not only a haven asset but also a "financial weapon" in the era of superpower competition.
WHAT THE MARKET IS DEBATING INTENSELY
One side believes that this discovery will help the gold supply increase sharply, causing prices to decrease in the long term
But the other side commented
China will most likely not sell it massively but use it as a national strategic asset
If so, what?The global gold medal may even continue to be anchored high for many years
CURRENT SJC GOLD PRICE
Price Type
Buy 158.5 million VND/tael
Sold for 161.5 million VND/tael
The large buying and selling gap continues to show the strong defensive mentality of the Vietnamese gold market
THE BIGGEST QUESTION OF THE TIME
If "forgotten super gold mines" still exist in large numbers around the world, is the gold market being priced too rare or are we only seeing the tip of the global treasure trove?
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