gold reserves

Sone Ki Chidiya: Twitter can’t keep calm over the discovery of Gold Reserves in Uttar Pradesh

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Given the current market price of gold at Rs 41,000 per 10 grams, the estimated cost of Sonbhadra gold mines would be more than 14.35 lakh crore.

Sonbhadra in Uttar Pradesh has hogged national and international headlines after geologists discovered massive gold deposits in the second largest district of the state. As per estimates, there are two goldmines with around 3,500 tonnes of gold ore in the Sonbhadra district, which is around five times the gold reserves of the country. The current gold reserves of the country is around 626 tonne.

Given the current market price of gold at Rs 41,000 per 10 grams, the estimated cost of Sonbhadra gold mines would be more than 14.35 lakh crore. At the rate of Rs 41,000 per 10 grams, 1 kg of gold will cost Rs 41 lakh and 1 ton of it will cost Rs 410 crore. As a result, 3,500 tonnes of gold will cost 14.35 lakh crore.

The discovery is expected to give a boost to the finances of the country. If 3,500 tonne of gold in Sonbhadra is added to the country’s gold reserves, India will have the second-largest gold reserves in the world, next to those of the United States. The US has 8,133 tonnes of gold reserves, followed by Germany with 3,366 tonnes.

See Also: 5 Times That Of India’s Reserves Gold Found In Gold Mine Of Uttar Pradesh In Sonbhadra District

Here’s how Twitterites reacted to gold discovery in UP’s Sonbhadra district:

Some people argue that the discovery of gold was a blessing and India would be again known as “Sone Ki Chidiya” (Golden Bird). India was the wealthiest land in the ancient times and hence it was called “Sone Ki Chidiya”.

Some people argue that the discovery of gold was a blessing and India would be again known as “Sone Ki Chidiya” (Golden Bird). India was the wealthiest land in the ancient times and hence it was called “Sone Ki Chidiya”.