India join the gold rush after massive deposits found in MP’s Jabalpur
Representative imageAfter our neighbours Pakistan and China hit the gold jackpot earlier this year, it was only fitting that India would not be left behind, as recent reports claim that the country has struck gold, right in the heart of it, in Madhya Pradesh’s Jabalpur. The gold reserves, believed to be spread over an estimated 100 hectares, could lead to lakhs of tonnes of gold, as per reports.The discovery reportedly came after a survey by the Geological Survey of India (GSI), as it carried out sampling across the Mahgawan Keolari region and found conclusive evidence of gold, copper, and other precious materials in the region that is known for its iron ore reserves. Crisis-hit Pakistan hits jackpotEarlier this year, Pakistan discovered 28 lakh tolas of gold reserve, valued at 80,000 crore PKR, according to reports.Former mining minister of Punjab Ibrahim Hasan Murad claimed a groundbreaking discovery involving 2.8 million tolas of gold, valued at 800 billion PKR (₹24,734 crore), spread across a 32-kilometre stretch in Attock district of Pakistan’s Punjab.Dragon breathes goldGold discoveries in multiple mining areas in China exceeded 168 metric tonnes in January 2025.The new deposits were discovered across several goldfields in the northwest and northern China, according to a report by the state-owned media of China, citing the China Geological Survey (CGS), a division of the Ministry of Natural Resources.A total of 102.4 tonnes were identified in Anbali, Gansu province; plus 41.3 tonnes in Hadamengou of the Inner Mongolia autonomous region; and 24.3 tonnes in Tahe Baoxinggou, Heilongjiang province, as per Chinese media.In November last year, more than 1,000 tonnes of gold reserves (valued at over ₹7 lakh crore) were discovered in the Wangu Goldfield, a gold mine in Pingjiang County, Hunan Province, as per Chinese media.Notably, China is the world’s largest producer of gold with a consistent output exceeding 300 MT annually.In 2023, China produced an estimated 370 metric tonnes of gold, around 10% of the world’s total production.Gold in IndiaWhile global forex reserves total around $12.5 trillion, the gold market is currently valued at $23 trillion, 15% of which is held in India, according to the DSP Mutual Fund’s July 2025 Netra report. In India, the Reserve Bank of India’s total gold holdings amount to 880 metric tonnes, according to the latest data. It has not added to its gold stash in FY26 yet, likely waiting for the softening of the safe-haven asset prices that surged more than 80% in five years amid geopolitical and trade uncertainties.Gold has made a new lifetime high in inflation-adjusted terms and is firmly in a bull market. This happened as the alternatives to the US dollar are scarce.“The Euro has repeatedly shown vulnerabilities due to the rugged fiscal make-up of the Economic and Monetary Union (EMU). The Chinese yuan is far from market-driven or politically palatable enough to be the reserve currency, and most other competitors are now too small to attract reserve asset purchases,” the report mentioned.(with inputs from syndicated feed)
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After our neighbours Pakistan and China hit the gold jackpot earlier this year, it was only fitting that India would not be left behind, as recent reports claim that the country has struck gold, right in the heart of it, in Madhya Pradesh’s Jabalpur.
The gold reserves, believed to be spread over an estimated 100 hectares, could lead to lakhs of tonnes of gold, as per reports.
The discovery reportedly came after a survey by the Geological Survey of India (GSI), as it carried out sampling across the Mahgawan Keolari region and found conclusive evidence of gold, copper, and other precious materials in the region that is known for its iron ore reserves.
Crisis-hit Pakistan hits jackpot
Earlier this year, Pakistan discovered 28 lakh tolas of gold reserve, valued at 80,000 crore PKR, according to reports.
Former mining minister of Punjab Ibrahim Hasan Murad claimed a groundbreaking discovery involving 2.8 million tolas of gold, valued at 800 billion PKR (₹24,734 crore), spread across a 32-kilometre stretch in Attock district of Pakistan’s Punjab.
Dragon breathes gold
Gold discoveries in multiple mining areas in China exceeded 168 metric tonnes in January 2025.
The new deposits were discovered across several goldfields in the northwest and northern China, according to a report by the state-owned media of China, citing the China Geological Survey (CGS), a division of the Ministry of Natural Resources.
A total of 102.4 tonnes were identified in Anbali, Gansu province; plus 41.3 tonnes in Hadamengou of the Inner Mongolia autonomous region; and 24.3 tonnes in Tahe Baoxinggou, Heilongjiang province, as per Chinese media.
In November last year, more than 1,000 tonnes of gold reserves (valued at over ₹7 lakh crore) were discovered in the Wangu Goldfield, a gold mine in Pingjiang County, Hunan Province, as per Chinese media.
Notably, China is the world’s largest producer of gold with a consistent output exceeding 300 MT annually.
In 2023, China produced an estimated 370 metric tonnes of gold, around 10% of the world’s total production.
Gold in India
While global forex reserves total around $12.5 trillion, the gold market is currently valued at $23 trillion, 15% of which is held in India, according to the DSP Mutual Fund’s July 2025 Netra report.
In India, the Reserve Bank of India’s total gold holdings amount to 880 metric tonnes, according to the latest data. It has not added to its gold stash in FY26 yet, likely waiting for the softening of the safe-haven asset prices that surged more than 80% in five years amid geopolitical and trade uncertainties.
Gold has made a new lifetime high in inflation-adjusted terms and is firmly in a bull market. This happened as the alternatives to the US dollar are scarce.
“The Euro has repeatedly shown vulnerabilities due to the rugged fiscal make-up of the Economic and Monetary Union (EMU). The Chinese yuan is far from market-driven or politically palatable enough to be the reserve currency, and most other competitors are now too small to attract reserve asset purchases,” the report mentioned.
(with inputs from syndicated feed)
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