If 3,500 tonne of gold found in UP added to country's gold reserves, India will have the second largest gold reserves in the world, next to those of the United StatesSonbhadra 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 tonne of gold will cost 14.35 lakh crore.