China’s central bank expanded its gold reserves for a seventh straight month in May, furthering its bid to diversify holdings despite ongoing price fluctuations.

A “supergiant” gold ore deposit under an existing gold mine in China could be the world’s largest gold ore deposit. Officials estimate that the extent of the find could be 1,100 tons stretching as deep as 9,800 feet below the surface. The find also shows promise as that of a high-quality producer of gold.

Prices of platinum, a white precious metal, have rallied over 30% this year, echoing robust gains in gold prices.

U.S. and China bark, Ukraine bites Even though the U.S. Court of International Trade (CIT) in New York ruled that the Trump administration had overstepped its authority in imposing sweeping tariffs on many countries back on April 2,

Gold prices rebounded on Wednesday to $3,335 per ounce, mainly due to uncertainty surrounding the finalization of a US-China trade deal and in anticipation of key U.S. inflation data. Officials on both sides agreed on a framework and on track to remove China's export restrictions on rare earths.

Gold steadied, after rising on escalating tensions in the Middle East, while President Donald Trump ratcheted up trade uncertainty with remarks that he intends to impose unilateral tariffs on dozens of US trading within two weeks.