Gold prices gained about 1% on Friday, supported by a weaker greenback and geopolitical woes, but were on course for their worst monthly performance since September 2023 due to a dollar rally this month following Donald Trump's U.

Gold remains on pace for its worst monthly performance in over a year despite rising for a fourth straight day, as the metal continues to recover from its heavy losses during the selloff driven by Donald Trump’s election win.

Gold prices have been witnessing an uptick in the last few days but the Bullion has declined 3 per cent so far in November.

China says it has discovered the world’s largest known deposit of gold, estimated to be worth over $80bn (£63bn). The deposit at the Wangu gold field in central China could yield more than 1,000 tonnes of gold, the Geological Bureau of Hunan was quoted as saying by Chinese state media.

Officials say that a gold field deposit in Hunan province could yield over 1,000 tonnes of the precious metal.

STORY: Supergiant gold deposit discovered in central China's HunanSHOOTING TIME: Nov. 21, 2024DATELINE: Nov. 22, 2024LENGTH: 00:01:19LOCATION: PINGJIANG, ChinaCATEGORY: ECONOMYSHOTLIST:1. various of the press briefing2.