China unveils record gold deposit and launches interest‑bearing gold accounts

China confirmed a massive gold deposit at Wangu in Hunan province, estimated at more than 1,000 tonnes and valued at about $134 billion. The ore grade of 138 grams per tonne was identified at a depth of 2,000 metres using 3D geological modelling, making it one of the richest known gold sites.

Meanwhile, China Merchants Bank announced the upcoming launch of its “Golden Prosperity” product, offering interest on gold deposits – 0.3 % on flexible accounts and 1 % on one‑year deposits, with returns paid in physical gold. The bank aims to make gold a productive asset and support diversification away from the US dollar.