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Largest gold deposit in the world worth $83 billion found in China

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Largest gold deposit in the world worth  billion found in China

What is being dubbed as the largest gold deposit in the world has been found in China, state outlet Xinhua news said.

The gold reserves are worth 600 billion yuan, according to Reuters, which amounts to $83 billion U.S. 

The discovery was made by geologists with the Hunan Provincial Geological Institute about 12 miles beneath the surface in the Asian country’s Pingjiang County, Xinhua reported, according to the New York Post. 

The area of the discovery of 40 gold ore veins with a total of 300.2 tons of gold resources is known as the Wangu goldfield. 

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Gold reserves worth $83 billion were found in China last month. (Hong Wu)

Hunan Academy of Geology forecast that there were more than 1,000 tons of gold reserves at a depth of over 3,000 meters, according to Xinhua.

China is the world’s largest gold producer, accounting for around 10% of global output in 2023, data from the World Gold Council showed.

CENTURIES-OLD GOLD TREASURE RECOVERED BY FLORIDA AUTHORITIES AFTER BEING STOLEN

The gold found last month in China is worth 600 billion yuan, Reuters reports. (Andrey Rudakov/Bloomberg)

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Prior to the discovery, the title of the largest gold reserve in the world went to the South Deep gold mine in Gauteng Province, South Africa, the Post states. It holds about 930 metric tons of gold. 

In October, prices for gold futures had risen over 32% year to date and more than 38% in the past year, setting a number of new all-time highs in the process. 

Stacks of gold bars in a subcompartment of the vault inside the U.S. Mint in West Point, New York, June 20, 2006. (Daniel Barry/Bloomberg via Getty Images)

One ounce of gold is currently going for nearly $2,674.

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Investors have turned to gold as a safe haven from a variety of geopolitical risks in the past year, including the ongoing conflicts in the Middle East and Ukraine. Uncertainty surrounding the direction of U.S. economic policy after the election, as well as the Fed’s rate-cutting plans and long-term trajectory of the growing national debt have also bolstered investment in gold.

FOX Business’ Eric Revell and Reuters contributed to this report.

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Video: Owner of Swiss Bar Detained in Fire Investigation

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Video: Owner of Swiss Bar Detained in Fire Investigation

new video loaded: Owner of Swiss Bar Detained in Fire Investigation

Prosecutors in Switzerland ordered Jacques Moretti to be detained after investigators questioned him and his wife, Jessica Moretti. Officials are looking into whether negligence played a role in last week’s deadly fire at their bar, Le Constellation.

By Meg Felling

January 9, 2026

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Greenland leaders push back on Trump’s calls for US control of the island: ‘We don’t want to be Americans’

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Greenland leaders push back on Trump’s calls for US control of the island: ‘We don’t want to be Americans’

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Greenland’s leadership is pushing back on President Donald Trump as he and his administration call for the U.S. to take control of the island. Several Trump administration officials have backed the president’s calls for a takeover of Greenland, with many citing national security reasons.

“We don’t want to be Americans, we don’t want to be Danes, we want to be Greenlanders,” Greenland Prime Minister Jens-Frederik Nielsen and four party leaders said in a statement Friday night, according to The Associated Press. Greenland, a self-governing Danish territory and a longtime U.S. ally, has repeatedly rejected Trump’s statements about U.S. acquiring the island.

Greenland’s party leaders reiterated that the island’s “future must be decided by the Greenlandic people.”

“As Greenlandic party leaders, we would like to emphasize once again our wish that the United States’ contempt for our country ends,” the statement said.

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TRUMP SAYS US IS MAKING MOVES TO ACQUIRE GREENLAND ‘WHETHER THEY LIKE IT OR NOT’

Greenland has rejected the Trump administration’s push to take over the Danish territory. (Thomas Traasdahl/Ritzau Scanpix / AFP via Getty Images; Al Drago/Bloomberg via Getty Images)

Trump was asked about the push to acquire Greenland on Friday during a roundtable with oil executives. The president, who has maintained that Greenland is vital to U.S. security, said it was important for the country to make the move so it could beat its adversaries to the punch.

“We are going to do something on Greenland, whether they like it or not,” Trump said Friday. “Because if we don’t do it, Russia or China will take over Greenland, and we’re not going to have Russia or China as a neighbor.”

Trump hosted nearly two dozen oil executives at the White House on Friday to discuss investments in Venezuela after the historic capture of President Nicolás Maduro on Jan. 3.

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“We don’t want to have Russia there,” Trump said of Venezuela on Friday when asked if the nation appears to be an ally to the U.S. “We don’t want to have China there. And, by the way, we don’t want Russia or China going to Greenland, which, if we don’t take Greenland, you can have Russia or China as your next-door neighbor. That’s not going to happen.” 

Trump said the U.S. is in control of Venezuela after the capture and extradition of Maduro. 

Nielsen has previously rejected comparisons between Greenland and Venezuela, saying that his island was looking to improve its relations with the U.S., according to Reuters.

A “Make America Go Away” baseball cap, distributed for free by Danish artist Jens Martin Skibsted, is arranged in Sisimiut, Greenland, on March 30, 2025. (Juliette Pavy/Bloomberg via Getty Images)

FROM CARACAS TO NUUK: MADURO RAID SPARKS FRESH TRUMP PUSH ON GREENLAND

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Danish Prime Minister Mette Frederiksen said on Monday that Trump’s threats to annex Greenland could mean the end of the North Atlantic Treaty Organization (NATO).

“I also want to make it clear that if the U.S. chooses to attack another NATO country militarily, then everything stops. Including our NATO and thus the security that has been provided since the end of the Second World War,” Frederiksen told Danish broadcaster TV2.

That same day, Nielsen said in a statement posted on Facebook that Greenland was “not an object of superpower rhetoric.”

Greenland’s Prime Minister Jens-Frederik Nielsen stands next to Denmark’s Prime Minister Mette Frederiksen during a visit to the Danish Parliament in Copenhagen on April 28, 2025. (Liselotte Sabroe/Ritzau Scanpix/AFP via Getty Images)

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White House deputy chief of staff for policy Stephen Miller doubled down on Trump’s remarks, telling CNN in an interview on Monday that Greenland “should be part of the United States.”

CNN anchor Jake Tapper pressed Miller about whether the Trump administration could rule out military action against the Arctic island.

“The United States is the power of NATO. For the United States to secure the Arctic region, to protect and defend NATO and NATO interests, obviously Greenland should be part of the United States,” he said.

The Associated Press contributed to this report.

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What Canada, accustomed to extreme winters, can teach Europe

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Euronews spoke to Patrick de Bellefeuille, a prominent Canadian weather presenter and climate specialist, on how Europe could benefit from Canada’s long experience with snowstorms. He has been forecasting for MétéoMédia, Canada’s top French-language weather network, since 1988.

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